Shares up 12.5% premarket (Il Sole 24 Ore Radiocor) - New York, 08 May - Shares in Reddit jumped in premarket trading after the social media company beat expectations in its first quarterly results since its listing in March.

Revenue in the first quarter rose 48% to 243.0 million dollars from 163.7 million in the same period a year ago.

That compared to a market consensus of 212.8 million dollars.

The company reported a net loss of 575.1 million dollars in the three months from a loss of 60.9 million a year earlier.

In the second quarter, Reddit said it expected revenue in the range of 240-255 million dollars.

At 1156 GMT, Reddit shares were up 12.5%.

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(RADIOCOR) 08-05-24 14:00:49 (0414) 5 NNNN