Reddit Stock Surges on Strong Q2 Earnings Beat
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BTCCSquare news:
Reddit's stock (RDDT) soared 14.2% this week following a stellar second-quarter earnings report that crushed analyst expectations. The social media platform posted $0.45 EPS on $500 million revenue—far exceeding the projected $0.19 EPS and $426 million sales estimate. Year-over-year revenue growth hit 78%, igniting a 308% annual rally.
Wall Street responded with aggressive price target upgrades as Reddit guided for $535M-$545M in Q3 sales, implying 55% YoY growth at midpoint. The earnings surprise underscores the company's accelerating monetization capabilities, though no direct cryptocurrency exposure was noted in the report.
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