Reddit shares jump 19% as AI deals boost quarterly revenue forecast

Quick Summary:

Reddit on Tuesday reported its first quarterly profit and forecast current-quarter revenue above Wall Street estimates, helped by its AI content licensing deals and strong digital advertising spending.

FILE PHOTO: Reddit's logo is displayed, at the New York Stock Exchange (NYSE) in New York City, U.S., March 21, 2024.

Shares of the company, popular for its user-led communities known as subreddits, rose 19 per cent in extended trading.

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Category: EconomyBusiness

Markets: Singapore

Topics: Third Million Content Reddit Average Cent Company Analysts Revenue Platform Deals

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 04:13:53 (1 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 390 words

Reading Time: 3 minutes read

Sentences: 15 lines

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Copyright Owner: © Channel News Asia

News ID: 23332222

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