One of the most mesmerizing moments in The Grand Budapest Hotel is the prison food inspection scene, where each meal is carefully examined for hidden contraband with precise, almost hypnotic detail.
Wow, $RDDT just posted an absolute blowout quarter.
-> $663M revenue (69% growth Y/Y) vs. ~$608M consensus.
-> $1.01 EPS reported vs. $0.6 consensus (68.3% beat).
-> 91.5% gross margins.
-> Q1 GAAP net income was $204M. This is probably the most important figure for true profitability since it includes SBC.
Next quarter they projected, $715M to $725M revenue growth with $285 million to $295 million adjusted EBITDA.
Reddit looks like a literal, high growth money printer. (Disclosure: I do have Reddit positions.)
Expect a lot of chart volatility from short term option flows.
But fundamentally, if you look at Reddit earnings without the noise, Reddit money printer go brrr.