The shares of Reddit Inc. tumbled on Wednesday in the after-hours trading following the latest earnings report.
While the business managed to beat analyst expectations on revenue and diluted earnings per share in the fourth quarter of fiscal 2024, full-year results didn't look so bright, with Reddit's net loss expanding to $484.3 million from $90.8 million registered in the same timeframe in 2023.
The company's stock slid 16.90% at 4:17 pm ET, selling at $179.89 apiece.
