Reddit's first-quarter revenue and second-quarter revenue guidance both beat expectations

On May 8th, Reddit's Q1 revenue was $243 million, exceeding analysts' expectations of $211.9 million. Q1 adjusted EBITDA was $10 million. Q1 daily active users were 82.7 million, exceeding analysts' expectations of 77.35 million. Q1 average revenue per user was $2.94, exceeding analysts' expectations of $2.75. Q2 revenue is expected to be between $240 million and $255 million, exceeding analysts' expectations of $228 million.