What's happened
Reddit and Uber released their Q1 earnings reports, with Reddit surprising with strong revenue growth and a forecast of adjusted profit, leading to a 14% surge in shares. Uber's results were mixed, with gross bookings up 20% but falling short of expectations, causing an 8% drop in share price.
Why it matters
Reddit and Uber's Q1 results have significant implications for investors and the tech industry. Reddit's strong revenue growth and user increase signal potential for its digital advertising business, while Uber's mixed results may raise concerns about its future performance.
What the papers say
Reddit's revenue growth and user increase have buoyed investor confidence, with CEO Steve Huffman expressing satisfaction with the company's progress. Uber's Q1 results fell short of expectations, with gross bookings and earnings-per-share missing forecasts.
How we got here
Reddit and Uber released their Q1 earnings reports, providing insights into their financial performance and market outlook. Reddit's first earnings report since going public showed a $575 million loss but strong revenue growth and user increase. Uber's results were mixed, with gross bookings up 20% but falling short of expectations.
Common question
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