Reddit Inc reports results for the quarter ended March 31 - Earnings Summary

• Reddit Inc RDDT.N reported quarterly adjusted earnings of 13 cents​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of $-8.19. The mean expectation of twenty two analysts for the quarter was for earnings of 2 cents per share. Wall Street expected results to range from -5 cents to 9 cents per share.

• Revenue rose 61.5% to $392.36 million from a year ago; analysts expected $370.01 million.

• Reddit Inc's reported EPS for the quarter was 13 cents​.

• The company reported quarterly net income of $26.16 million.

• Reddit Inc shares had risen by 11.1% this quarter and lost 28.7% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 132.5% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy," 6 "hold" and 2 "sell" or "strong sell." The average consensus recommendation for the online services peer group is also "buy"

• Wall Street's median 12-month price target for Reddit Inc is $156.50

This summary was machine generated from LSEG data May 2 at 03:41 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)