Reddit reports 69% jump in revenue, topping analyst estimates

Reddit reported better-than-expected profit and revenue in its first-quarter earnings report on Thursday, and also issued an optimistic forecast. The stock jumped 6% in extended trading. Here's how the company did compared with LSEG estimates:Earnings per share: $1.01 vs. 58 cents expectedRevenue: $663 million vs. $611 million expectedRevenue jumped 69% in the quarter from $392 million a year earlier, Reddit said in an earnings release. Net income soared to $204 million, or $1.01 per share, from $26 million, or 13 cents per share, a year ago.Reddit said second-quarter sales should be in the range of $715 million to $725 million, ahead of analyst estimates of $712 million. Adjusted earnings will be between $285 million and $295 million, topping the $276 million average estimate.

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