Reddit, Inc. reported its first quarterly earnings since its initial public offering, revealing a significant revenue increase and a substantial net loss. The company's revenue for the first quarter was $243 million, surpassing analyst expectations of $212.8 million. This 48% year-over-year increase was driven by strong user growth and a rise in advertising revenue. However, Reddit also reported a net loss of $575.1 million, attributed mainly to IPO-related expenses, and a GAAP EPS loss of $8.19. Following the earnings release, Reddit's stock price surged, with shares increasing by over 15% in after-hours trading. The company also provided an optimistic revenue forecast for the second quarter, projecting revenues between $240 million and $255 million, which is above the estimated $228 million.