Reddit (RDDT) beat first-quarter estimates on the top and bottom line in the social media platform's first earnings report since going public in March. Reddit CEO Steve Huffman joins Yahoo Finance Executive Editor Brian Sozzi to talk the website's earnings figures, its CapEx (capital expenditure) spending, and Reddit's plans to revamp its user interface.

"The thing about Reddit is its communities, and those communities represent every interest and hobby and passion imaginable. Which means in addition to being fun for users, basically every company's customers are on Reddit somewhere. and our ads technology is getting better and better," Huffman states. "And so if you're a company trying to reach your customers and know that 30% of our users are not on Instagram or Facebook or TikTok, other big advertising platforms, as a company, you can find your customers uniquely on Reddit, often in a moment where they're talking about your product or brand or vertical."

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This post was written by Luke Carberry Mogan.