Reddit's (Explore: RDDT) first earnings report since its IPO showcased a significant 48% increase in revenue to $243 million, surpassing the expected $214 million, driven by a 37% rise in daily active users to 82.7 million and an expanding advertising business. Despite a larger-than-expected net loss of $575 million, primarily due to IPO-related expenses, Reddit achieved its first adjusted quarterly profit of $10 million. The company's share price soared over 12% after hours as it raised its Q2 revenue forecast to between $240 million and $255 million. CEO Steve Huffman highlighted ongoing investments in product quality and AI to enhance user engagement and moderation, while COO Jen Wong expressed uncertainty about the second half of the year, citing potential impacts from the US election on advertising.

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