Zinger Key Points
- Reddit experiences service disruption, peaking at 72,000 user reports before restoring functionality within an hour.
- Reddit's stock drops 4.66% after brief service outage affecting thousands of users on Monday morning.
- Live on Wednesday June 18: 3 Summer "Power Patterns" Are About to Trigger (One With 90% Win Rate). See Them Here.
Social media platform Reddit Inc RDDT reported service disruption on Monday morning.
The connection errors began at 11:20 am ET, according to Downdetector.
The number of users reporting issues peaked at more than 100,000 users worldwide, as per Downdetector.
At 12:21 pm ET, Reddit status disclosed that all systems were operational and the outage was resolved.
Users faced issues globally across apps and websites.
In February, Reddit reported fourth-quarter revenue of $427.71 million, beating the consensus estimate of $405.26 million. Fourth-quarter earnings of 36 cents per share beat analyst estimates of 25 cents per share. Daily active unique (DAUq) users increased 39% year over year to 101.7 million.
Price Action: RDDT stock is down 4.66% at $91.80 at the last check Monday.
Photo: Henry Franklin/Shutterstock
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