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00:02Reddit reported first quarter profit and revenue that exceeded expectations
00:06and issued an optimistic forecast, according to CNBC.
00:10Earnings per share came in at $1.01 versus $0.58 expected,
00:15and revenue was $663 million versus $611 million expected.
00:20Revenue rose 69% to $392 million a year earlier
00:25from $392 million in the prior year, Reddit said in an earnings release.
00:30Net income increased to $204 million,
00:33or $1.01 per share from $26 million,
00:37or $0.13 per share a year earlier.
00:41Reddit said second quarter sales will be $715 million to $725 million,
00:47above analyst estimates of $712 million.
00:52Adjusted earnings will be $285 million to $295 million,
00:56above the $276 million average estimate.
01:00Shares jumped more than 9% in Thursday's extended trading.
01:04For all things money, visit Benzinga.com.
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