Reddit forecasts revenue above estimates as AI fuels ad sales

Reddit forecast first-quarter revenue above ‍Wall Street estimates ​on Thursday, as artificial intelligence-powered enhancements to its ad ⁠platform help the social media platform draw more marketers, sending its shares up 10% in extended trading.

The company announced its first share repurchase ‌program of up ‌to $1 billion, citing strong profitability and cash generation that give it the flexibility ‌to return capital to shareholders while continuing product investments.