📈 RDDT's Recovery!

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Today we’ll dive into:

• Reddit’s market recovery

• Disney’s streaming woes

Grab your chai latte and let's get into it! ☕️👇️

Markets

📉 US stock index futures muted

🤖 Reddit Stock Soars 15% as Traders Cheer 48% Revenue Growth in 1st Earnings Report

🏆 1 Glorious Growth Stock Down 49% to Buy, According to Wall Street

🏰 Disney Stock Wipes Out 10% Despite First Profit in Core Streaming Business.

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BUSINESS

Reddit's Market Debut: A Signal of Digital Ad Recovery?

Reddit (NASDAQ: RDDT) made a striking entrance into the public market, with its stock soaring 15% after releasing its first quarterly earnings. Opening at just under $57 a share, Reddit announced a revenue surge to $243 million, up 48% year-over-year and well above expectations. This impressive performance is set against the backdrop of a broader digital advertising rebound after a challenging 2022.

Despite the revenue boom, Reddit's earnings were tempered by a net loss of $575.1 million, largely due to costs associated with its March IPO. The adjusted EBITDA saw a decline, falling to $10 million from $50.2 million a year earlier, highlighting the steep path to monetizing its growing user base.

User engagement numbers were more positive, with weekly active users increasing by 40% to 306.2 million and daily active users by 37% to 82.7 million. This growth indicates Reddit’s expanding influence and its potential for future revenue generation.

The resurgence is part of a larger trend where companies like Meta, Amazon, and Alphabet reported significant ad revenue growths of 27%, 24%, and 13%, respectively, for the first quarter of 2024.

As Reddit navigates the challenges ahead, its ability to balance growth with profitability will be crucial in determining its long-term market position.

BUSINESS

Disney’s Earnings Rollercoaster

Disney's stock (DIS) took a 10% hit on Tuesday, overshadowing a milestone achievement in their streaming business. Despite Disney+ and Hulu turning a profit for the first time, detailed in a TradingView report, the broader streaming sector, including ESPN+, reported a loss of $18 million—an improvement from last year’s $659 million loss.

CEO Bob Iger remains optimistic, aiming for full streaming profitability by September's end as Disney+ subscriber count hits 117.6 million. However, as CNBC outlines, despite these gains, Disney's traditional TV and box office sectors are in decline, clouding the overall financial picture.

What’s Next for Disney?

With eyes firmly set on streaming success, Disney faces the dual challenge of boosting its new ventures while managing declines in its traditional domains. The path to profitability is clear, but fraught with obstacles that could sway the company’s fate in the unpredictable entertainment market.

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