Reddit Projects Strong Ad Sales, Authorizes Share Buyback

Reddit Inc. projected current-quarter sales that surpassed Wall Street’s expectations, a reflection on the company’s growing advertising business just two years in as a publicly traded company.

First-quarter revenue is expected to be $595 million to $605 million, the social media company said in a statement Thursday. The average Wall Street estimate was $577.3 million, according to Bloomberg-compiled data.