Reddit’s strong revenue forecast signals advertising strength

Reddit forecast second-quarter revenue above Wall Street estimates on Thursday, betting on growing digital advertising spend on the social media platform despite uncertainty over marketing budgets. The company’s shares, which rose as much as 20% in extended trading, pared gains to trade up 7%, after CEO Steve Huffman said on a post-earning call that the company expects some disruption for daily active users from Google search.

“We do expect some bumps along the way from Google, because we’ve already seen a few this year,” Huffman said, adding that…