predicted that it could post an adjusted core profit in the second quarter on the back of strong user growth and an uptick in the advertising market, sending its shares up more than 16 per cent in extended trading on Tuesday.
Reddit is also trying to diversify revenue by licensing its user-generated content for the training of data-hungry AI models. It signed a deal with Google earlier this year that is worth about $60 million per year.
Source: News Formal (newsformal.com)
Revenue Reddit Loss Company Earnings Estimate Back Reddit Google LSEG
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