Reddit expects revenue above estimates as AI tools attract advertisers

July 30 : Reddit forecast third-quarter revenue above Wall Street estimates on Thursday, signaling its strategy to draw marketers by offering AI-powered advertising tools is paying off.The company's ad tools are designed to enhance campaign performance by offering a library of successful ads, generating Reddit-specific ad copy, tracking visitor actions after ad exposure and enabling interest and community-based targeting within subreddit discussions.Reddit has succeeded in carving a place for itself in a highly competitive social media market, where bigger rival Meta through its Threads communities hub and new Forum app for Facebook Groups users appears to be directly targeting Reddit's core community model."The company's advertiser growth in the second quarter was 70 per cent year-over-ye