Reddit (RDDT.N) forecast third-quarter revenue above Wall Street estimates
- Reddit forecast third-quarter revenue above Wall Street estimates on Tuesday, a sign that a recovering digital ad market would draw more advertisers to the social media platform.
However, the earnings fanned optimism that Reddit's content licensing deals with Alphabet's Google and Microsoft-backed OpenAI are paying off. "Later this year we will begin testing new search results powered by AI to summarize and recommend content," CEO Steve Huffman said in an earnings call.
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