Reddit exceeds revenue expectations amid economic uncertainty

In the United States, Reddit recently reported its first-quarter earnings, which showed that the company's revenue surpassed Wall Street expectations. The revenue for Q1 reached $392 million, indicating a significant 61% increase compared to the same period last year when it was $243 million. This growth in revenue can be attributed to both user growth and improved average revenue per user (ARPU), which rose by 23% to $3.63 during the quarter. The company also reported a profit of $0.13 per share, greatly exceeding analysts' projections of $0.01 per share.