Reddit (RDDT) Q1 2026 earnings report
CNBC • • business
Key Points:
- Reddit reported first-quarter earnings with a profit of $1.01 per share and revenue of $663 million, surpassing analyst expectations of 58 cents per share and $611 million in revenue.
- The company’s revenue increased 69% year-over-year, with net income soaring to $204 million from $26 million in the prior year, driven by strong growth in online advertising.
- Reddit forecasted second-quarter sales between $715 million and $725 million, exceeding analyst estimates, and projected adjusted earnings of $285 million to $295 million, above the $276 million average estimate.
- Daily active unique users grew 17% year-over-year to 126.8 million globally, with U.S. daily users reaching 53.5 million; CEO Steve Huffman highlighted a goal of reaching 100 million daily U.S. users.
- The company’s data licensing business grew 15% to $39 million, with key partnerships including Google and OpenAI, which support Reddit’s growth strategy through access to advanced AI infrastructure.
