Reddit reported better-than-expected results, but the company issued disappointing user numbers.
  • DreamButt@lemmy.worldEnglish
    1·
    26 days ago

    Funny. I actually noticed this the other day but thought it was isolated. For a couple days every time I’d google something the first result would be Facebook until I forced it to search for reddit

  • einlander@lemmy.world
    1·
    26 days ago

    It feels like the tech bros are teaming up to punish reddit and other companies/entities that hurt Elon, Trump, and others feelings.

  • shalafi@lemmy.worldEnglish
    1·
    26 days ago

    Reddit’s sales jumped 71% in the quarter from $250 million a year earlier, the fastest growth rate for any quarter since 2022.

    The company said first-quarter sales will be between $360 million and $370 million, ahead of the average analyst estimate of $358 million.

    Net income almost quadrupled to $71 million, or 36 cents a share, from $18.5 million, or breakeven on a per-share basis, a year earlier. Reddit reported adjusted earnings of $154 million in the fourth quarter, topping analysts’ expectations of $128 million.

    Reddit went public in march at $34 a share and has since seen its stock jump more than sixfold to $216.47 as of Wednesday’s close. The shares were up 32% this year prior to the after-hours selloff.

    Sounds like I should have gone all-in on reddit stock. (If I had had money.)

    Lemmy: HA! Reddit’s DYING!

    Fuck me, the site is poisonous with bots and manipulation, but I’m not going to act like it’s failing. Same exact deal with Facebook. If I find a promising link to those sites, I’ll have a look. Otherwise, don’t participate.

  • aramis87@fedia.io
    1·
    26 days ago

    “It primarily affects logged-out users in the U.S.,” he said. “This one was particularly interesting because there really was a swing down, but then a recovery shortly thereafter happened right at the end of the quarter.”

    Show me the graph, spez. Pics or it didn’t happen!