Reddit, Inc. (NYSE:RDDT) shares moved lower, despite a strong fourth-quarter earnings beat and in opposition to a broad market rally on Friday.
After an initial pre-market jump of nearly 8%, Reddit stock has seen some volatility as the broader market processes the details.
- RDDT stock is down. See the chart and price action here.
Key Highlights from the Earnings Report
Reddit reported impressive growth across its core business metrics:
Earnings Beat: Reported adjusted EPS of $1.24, significantly outperforming the analyst consensus of $0.94.
Revenue Surge: Revenue hit $726 million (up 70% year-over-year), driven by a 75% increase in advertising revenue.
User Growth: Daily Active Uniques (DAUq) rose 19% to 121.4 million, with international …