BUZZ-Reddit slumps as Q4 daily active unique visitors miss estimates

Shares of social media firm Reddit RDDT.N slump 17.5% to $179 in extended trading

Company missed market estimates for daily active unique visitors in the fourth quarter on Wednesday

Reddit's daily active unique visitors rose 39% to 101.7 million in the fourth quarter ended December 31, missing estimates of 103.3 million — LSEG

Revenue rose 71% to $427.7 million during the fourth quarter, beating the average estimate of $405.3 million

RDDT expects first-quarter revenue of $360 million to $370 million vs estimate of $358.1 million

RDDT, which debuted in March 2024, gained nearly five-fold last year