Reddit is trading 5.3% down at $168.55 as investors engage in profit-taking following its Q2 earnings release, despite the company beating top and bottom-line expectations.
- The company reported 61% year-over-year revenue growth, driven by continued strength in advertising and user engagement metrics.
- While results exceeded analyst estimates, the stock is seeing volatility as the market digests future guidance and reassesses valuation after a period of rapid growth.