Reddit forecasts revenue above estimates as AI fuels ad sales
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Reddit forecasts first-quarter revenue between $595 million and $605 million, exceeding Wall Street's estimate of $577.2 million, driven by AI enhancements in its advertising platform. The company also announced a $1 billion share repurchase program, reflecting strong profitability. Reddit's fourth-quarter revenue rose 70% to $726 million, surpassing estimates, with daily active users increasing by 19%. The platform's AI tools, including an AI copywriter, are expected to attract more advertisers, intensifying competition with Meta.
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