Reddit Reports Its Most Profitable Quarter; Stock Gains 7%

Reddit, which has surged in popularity in recent years, reported its most profitable quarter yet, driving its stock up more than 7%, Forbes Daily reported.

CEO Steve Huffman praised the platform’s ability to be “for humans, by humans.”

The stock’s recent gains have made cofounder and CEO Steve Huffman a billionaire, with a net worth of $1.2 billion. Huffman praised the platform’s ability to be “for humans, by humans.”

Meanwhile, Amazon’s post-earnings Wall Street rally boosted Jeff Bezos’ net worth by as much as $24 billion, bringing his total fortune to around $254.3 billion at the close of last week.

The company’s shares skyrocketed 10% on Friday, with Amazon attributing much of the earnings bump to growth in Amazon Web Services.