Changes in US stocks | Q2 revenue recorded the fastest growth rate in three years Reddit (RDDT.US) surged more than 21%

The Zhitong Finance App learned that on Friday, Reddit (RDDT.US) surged more than 21% to a five-month high of $194.33. According to the news, the company's second-quarter revenue increased 78% to $500 million, the fastest growth rate in three years, exceeding the 425 million US dollars expected by Wall Street analysts tracked by Bloomberg. Adjusted earnings per share of $0.92 were also higher than expectations of $0.72. Net profit reached $89 million, more than double the analysts' average estimate of $36 million.

Reddit said in a statement on Thursday that third-quarter sales are expected to be between $535 million and $545 million, which is higher than the average Wall Street estimate of $473 million.