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.
Yep. The quality of discourse, which had already been trending down for years, fell off a fucking cliff when they started actively chasing most people worth a damn off the site (w/ API, VPN policy, etc).
We also mean dying as a place where you can meet and have interesting conversations that even when heated invite you into learning and thinking differently.
Lack of limitless quantity of voices does little inherently to degrade the quality of conversation, though of lack of diversity certainly does.
I have met singular people on the fediverse that I have learned more from and that contain more powerful words than entire swaths of corporate social media. It isn’t because normies suck it is that there is no oxygen in the room in those places like there is here and it leads a culture of constant self betrayal, and a feeling of ever present glare.
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.
When we say dying, we mean dying as a useful and usable platform for us, the former reddit userbase. The Reddit Corporation is a different thing.
Yep. The quality of discourse, which had already been trending down for years, fell off a fucking cliff when they started actively chasing most people worth a damn off the site (w/ API, VPN policy, etc).
We also mean dying as a place where you can meet and have interesting conversations that even when heated invite you into learning and thinking differently.
Lack of limitless quantity of voices does little inherently to degrade the quality of conversation, though of lack of diversity certainly does.
I have met singular people on the fediverse that I have learned more from and that contain more powerful words than entire swaths of corporate social media. It isn’t because normies suck it is that there is no oxygen in the room in those places like there is here and it leads a culture of constant self betrayal, and a feeling of ever present glare.