(CercleFinance.com) – Reddit published better than expected performances last night on the occasion of its first publication of quarterly results since its IPO in March, figures which were greeted by a gain of more than 2% today today on Wall Street.
The social media company revealed last night first quarter revenues up 48% year-on-year, to $243 million, thanks to advertising revenues up 39% (222.7 million).
For comparison, the consensus of analysts was targeting quarterly turnover of around $212 million.
Other good news, the American group generated an operating profit (Ebitda) of ten million dollars, compared with a loss of more than 50 million dollars a year earlier.
Its number of unique active users also increased by 37% to 82.7 million, while that of its weekly active users increased by 40% to 306.2 million.
For its second quarter, Reddit said it was targeting revenue of between $240 and $255 million, representing growth of 31% to 39%, for Ebitda ranging from zero to $15 million, objectives above expectations.
If they raise their price target from $50 to $57, BofA analysts believe that this strong performance will be difficult to repeat, as it is boosted by new agreements regarding the use of its data, which leads them to reiterate their opinion ‘neutral’ on the title, which according to them includes a lot of good news.
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