Reddit: Why I'm Staying Bullish Into The Q2 Print

Reddit remains a Buy into Q2, with supportive valuations and a statistical edge for pre-earnings positioning despite recent volatility. RDDT's Q2 guidance implies 43-45% YoY revenue growth and a 40% EBITDA margin, but consensus expects a beat, even against tough comps. The Google licensing overhang introduces significant uncertainty, yet I see limited direct revenue risk and asymmetric upside if renegotiation occurs. Cost discipline and engagement metrics are critical; watch for margin expansion, user retention, and any buyback activity post-Q2.