Reddit (NYSE: RDDT) shares surged over 20% by midday Friday after the social media platform reported stellar second-quarter results, marking its most profitable quarter in company history. Reddit posted GAAP earnings per share (EPS) of $0.

Reddit's shares surged 15% on Friday after it reported quarterly results that exceeded Street expectations, boosting investor confidence in the platform's AI-based advertising tools and strong user engagement.

Reddit’s recently launched A.I. marketing tools are already fueling strong advertising growth. In the latest quarter ended June, the social media company reported a 78 percent year-over-year revenue increase to $500 million,

Reddit stock climbed 15% Friday after it revealed its second-quarter results, with revenue up 78% year-over-year to about $500 million and EPS hitting $0.45, far surpassing Wall Street expectations. Most Wall Street analysts were impressed by the company’s ad business,