Reddit Shares Fall About 17% as Weaker Outlook Overshadows Revenue Growth
Reddit expects fourth-quarter revenue of $1 billion to $1.03 billion, below Wall Street's forecast. Revenue rose 53%, and quarterly earnings topped analyst expectations.
Reddit NYSE:RDDT shares dropped about 17% in early Friday as concerns over user activity and a weaker revenue forecast outweighed quarterly earnings that topped analyst expectations.The social media company expects fourth-quarter revenue of $1 billion to $1.03 billion, below Wall Street's forecast…