Reddit shares jumped as much as 16 per cent in pre-market trading after improvements to the social media platform’s advertising system helped push quarterly sales higher than expected in its first results as a public company.
Revenue increased 48 per cent to $US243 million ($369 million) in the period ended March 31, the social media company said on Tuesday in a statement. Analysts, on average, estimated $US211.9 million, according to data compiled by Bloomberg.
