US Stock Market Move | Q2 revenue sees fastest growth in three years; Reddit (RDDT.US) surges over 21%

On Friday, Reddit (RDDT.US) surged over 21%, hitting a five-month high of $194.33. On the news front, the company's second-quarter revenue increased by 78% to $500 million, marking the fastest growth in three years and surpassing Wall Street analysts' expectations of $425 million tracked by Bloomberg. Adjusted earnings per share were $0.92, also higher than the expected $0.72. Net profit reached $89 million, more than double the average analyst expectation of $36 million. Reddit stated in its Thursday announcement that third-quarter sales are expected to be between $5.35 billion and $5.45 billion, with the midpoint of this range higher than Wall Street's average expectation of $4.73 billion.