Why Reddit stock is moving today: RDDT dips in premarket after earnings and a $1 billion buyback
Reddit shares fell 1.1% to $151.05 in Friday premarket trading after reporting fourth-quarter revenue up 70% to $726 million and ad revenue up 75% to $690 million. Daily active uniques rose 19% to 121.4 million, with diluted EPS at $1.24. The company forecast first-quarter revenue of $595–$605 million and announced a $1 billion share buyback. Shares rose 4% after-hours following the update.