CEO Steve Huffman said in an earnings call that the company still expects some "bumps" in traffic due to Google's algorithm.

Reddit Inc. shares climbed 6.5% in extended trading Thursday after the social-media platform’s first-quarter daily active users, revenue and profit topped Wall Street’s expectations.

The stock price is likely also being affected by the fact that the U.S. economy contracted in the first three months of the year, its first quarterly decline since 2022. Reddit's stock fell by as much as 11% today and was down by 7.7% as of 11:43 a.m. ET on Wednesday.