Reddit shares plunged the most on record on Friday after US daily users, lack of new AI deal announcements dissapointed investors.
  • SirEDCaLot@lemmy.todayEnglish
    16·
    1 hour ago

    If anything this shows how totally fucked equity markets are.

    • Predicted $732MM revenue, reported $805MM (10% higher than projected)
    • Expected 54MM DAU, got 53.2MM (1.5% lower than projected)
    • Expected daily users growth of 130.07MM, actual growth 130.3MM (0.2% higher than projected)

    So they’re making way more money than expected, but they haven’t sold out their users fast enough so dump the stock?

    • kreskin@lemmy.worldEnglish
      2·
      38 minutes ago

      53.2 million daily active users, which is down from 53.5 last quarter. US DAU is shrinking.