Reddit (RDDT, Neutral, $120 target) Ad business continues to rev, as focus turns to growing logged in users
In this first take following tonight’s results, we focus on:1. DAUqs steady as AI Mode rolls out, helped by marketing and product improvements
2. Ad business drivers: Dynamic products ads and more automated bidding
3. Data licensing strategy to increasingly include pursuit of bad actors
4. Investing revenue strength into more sales and marketing
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