Reddit surges after rosy Q2 revenue outlook

Social media firm Reddit's RDDT.N shares rise 17.8% to $139.58 in extended trading

RDDT forecasts second-quarter revenue above Wall Street estimates, betting on growing digital advertising spend on the social media platform despite uncertainty over marketing budgets

Co expects current-quarter revenue to be between $410 million and $430 million, vs estimates of $395.5 million- LSEG.

It expects adjusted EBITDA of $110 million to $130 million in Q2, above estimates of $105.3 million

Q2 revenue grew 61% to $392.4 million vs estimates of $370 million

RDDT down ~27.3% YTD