Reddit Stock Drops. Why Its Massive Earnings Gain Just Vanished.

Reddit stock was up after it reported first-quarter earnings that beat analysts’ expectations, but not as much as it had been immediately after the results. Daily active users, a closely watched metric, rose to 108.1 million, a 31% increase over the same period last year, and slightly above analyst estimates of 107.3 million. Advertising revenue came in at $358.8 million, for a 61% increase over the first quarter of 2024.