Reddit, the hot social media star, posted impressive second-quarter results, with revenue surging 78% to $500 million and ad sales up 84% to $465 million. The company reported a profit of $89 million, a significant improvement from a $10 million loss in the same quarter last year. Daily active users increased by 21% to over 21 million. Reddit’s guidance for the current quarter is also strong, projecting revenue of $535 million to $545 million. Analysts are bullish on Reddit’s growth potential, forecasting nearly 60% annual revenue growth for 2025 and a significant improvement in profitability. Despite high valuations, Reddit’s user engagement and growth prospects make it a promising investment compared to peers like Meta Platforms and Snap.

Read more at Yahoo Finance: Reddit Stock Could Outperform Meta and Snap Over the Next 12 Months