Reddit shines with record numbers: Advertising boom massively boosts quarterly profit

The social media platform Reddit has had an impressive fourth quarter, significantly surpassing Wall Street expectations. With a quarterly profit of $252 million, compared to $71 million the previous year, the company reinforces its ambitions to take a leading role in the digital advertising market. Advertising revenue as a key growth driver The main engine behind this success was the advertising business, which accounts for most of the total revenue. Advertising revenue surged by an impressive 75% in the fourth quarter to $690 million. According...