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00:02Reddit reported second quarter results that beat analyst expectations for earnings and revenue,
00:07but shares fell more than 5% in Thursday's extended trading, according to Benzinga.
00:13The company reported earnings of 1.25 per share on revenue of $804.91 million,
00:21topping estimates of $0.95 per share and $730.26 million in revenue.
00:26Revenue increased from $499.6 million a year earlier.
00:30Daily active uniques rose 18% to $130.3 million,
00:34while weekly active uniques increased 24% to $514.6 million, surpassing half a billion.
00:41Gross margin improved to 91.3%, adjusted EBITDA more than doubled to $343 million,
00:47and operating cash flow climbed 135% to $262 million.
00:53CEO Steve Huffman said the company's commercial momentum reflects the value of real human perspective
00:58and highlighted more than $1 million in revenue per employee.
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