) stock popped as much as 5% Wednesday after the company said in its first-ever quarterly earnings report that it expects better-than-expected sales growth in the current quarter and further progress on profitability.that it expects Q2 revenue in the range of $240 million to $255 million, above Wall Street's estimates for $228 million. The social media company also said it sees adjusted EBITDA in the current quarter in the range of $0 to $15 million.
"We expect trends to remain strong through the year given recent tailwinds, and we raise our 2024 & 2025 revenue estimates by 11% & 12%, respectively," Anmuth wrote. This, Needham analyst Laura Martin, argued in a research note could be crucial to Reddit's future growth. Martin added Reddit to Needham's "conviction list" with a buy rating and $63 price target, noting optimism about Reddit's upside from licensing its data to train generative AI large language models.
"We're in early days here," Huffman said. "I'd say, big picture, we have seen an increase in interest in Reddit's data for various uses. And so, look forward to how this grows looking forward."In this article, we discuss the 10 companies to consider in the portfolio of Kevin O’Leary for 2024.
Known as the Oracle of Omaha, Warren Buffett is one of the most successful investors of all time. He started his first investment partnership in 1956 with a few friends and family. An investment in...CALGARY — Suncor Energy Inc. says it earned $1.61 billion in the first three months of 2024, down from $2.05 billion a year earlier. The Calgary-based energy giant says its first-quarter earnings amount to $1.25 per common share, compared with $1.54 in the first quarter of 2023.
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