| Mobile Web

Reddit posts strong first-quarter results; revenue up 69 percent, net profit surges

Reddit topped market expectations for first-quarter revenue and net profit and issued an upbeat outlook for the second quarter. Revenue rose 69 percent to $692 million, while net profit climbed to $204 million. Earnings per share increased to $1.01. The company forecast second-quarter revenue of $715 million to $725 million and adjusted profit above estimates. Daily active unique users rose 17 percent to 126.8 million.