Reddit beat Wall Street expectations for first-quarter revenue and issued stronger-than-expected guidance, according to CNBC. The company reported earnings of 13 cents per share and $392 million in revenue, exceeding analyst expectations. Reddit projected second-quarter revenue between \$410 million and \$430 million, topping Wall Street’s \$396 million estimate. In a letter to investors, the company said it is “well-positioned to meet this moment” amid the U.S.-China trade dispute. Reddit has seen growth from Google search changes and site improvements, bringing in more new and returning users. The company is working to convert logged-out users into logged-in users to boost ad value.
