🖥️ Reddit sank 5.32% after the site reported 101.7 million global daily active users in Q4, a 39% increase year over year, but still lower than the 103.1 million Wall Street expected. The culprit, according to CEO Steve Huffman? Google tweaked its algorithm, which led to fewer Reddit posts getting that sweet SEO boost in search results.
- EPS: $0.36, versus projections of $0.25
- Revenue: $428 million, versus projections of $405 million
💸 Robinhood Markets is entering its crypto era. Shares of the retail trading platform soared 14.11% after it reported that its crypto-based revenue jumped a staggering 700% year over year, to $358 million. That’s probably why Robinhood is doubling down on digital assets: Management said on the earnings call that the trading app is looking into tokenization of real world assets.
- EPS: $1.01, more than double expectations of $0.42
- Revenue: $1.01 billion, above expectations of $946 million
📱 AppLovin investors are lovin’ this ad tech company. Shares jumped 24.02% today, bringing its 12-month gain to an impressive tk%. AppLovin was the best-performing tech stock in the US last year, but it looks like it has more room to run. Management said it is divesting its apps business and doubling down on AI ad software, a move analysts praised.—LB
- EPS: $1.73, beating expectations of $1.25
- Revenue: $1.37 billion, beating forecasts of $1.26 billion
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