BREAKINGVIEWS-Reddit answers almost everything post-IPO

Reuters05-08

(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.)

By Jennifer Saba

NEW YORK, May 8 (Reuters Breakingviews) - In its first quarterly results since making a market debut, the $8 bln social-media site nearly doubled revenue and swung to positive adjusted EBITDA from a loss. Boss Steve Huffman is addressing many concerns raised ahead of the listing, but the valuation remains questionable.

Full view will be published shortly.

Follow @jennifersaba on X

CONTEXT NEWS

Social media site Reddit said on May 7 that its first-quarter revenue nearly doubled to $243 million from the same period last year. Its EBITDA, after stripping out stock-based compensation related to its initial public offering, was $10 million compared to a $50 million loss in first quarter 2023.

(Editing by Jeffrey Goldfarb and Pranav Kiran)

((For previous columns by the author, Reuters customers can click on jennifer.saba@thomsonreuters.com; Reuters Messaging: jennifer.saba.thomsonreuters.com@reuters.net))

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