MarketPR
Second-quarter results that beat on both the top and bottom lines, paired with a forward revenue outlook above estimates, were not enough to hold Reddit's tape.
RDDT fell 11% in the session, with commentary around search referrals described as choppy pulling the conversation away from the print. The session priced something else.
The print the market looked past Reddit cleared consensus on revenue and on earnings for the second quarter. The company also issued a revenue forecast for the forward period that came in ahead of analyst projections.
Two lines beat, guidance came in above the bar, and shares still fell by double digits. That outcome is the kind of disconnect that rewards skepticism about what actually moved the tape.
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