Reddit forecasts quarterly revenue above estimates

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Reddit forecasts quarterly revenue above estimates - Channel News Asia

Quick Summary:

:Reddit forecast first-quarter revenue above Wall Street estimates on Wednesday, betting on its artificial intelligence content licensing deals and a robust digital advertising spend.

Reddit is benefiting from its conversation placement ads format, where brands can advertise directly into discussion threads within interest-based communities known as subreddits.

That is bolstered by the company's ramping content licensing deals with Alphabet's Google and Microsoft-backed OpenAI, which have helped it diversify its revenue streams.