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Jun 30, 2024
Reddit Inc Q2 2024 Earnings Report
Reddit announced strong Q2 results with revenue and users growing over 50% year-over-year.
Key Takeaways
Reddit reported a strong second quarter in 2024, with significant year-over-year growth in revenue and daily active users. Revenue increased by 54% to $281.2 million, and daily active users increased by 51% to 91.2 million. The company also reduced its net loss to $10.1 million and achieved positive Adjusted EBITDA of $39.5 million.
Daily Active Uniques (DAUq) increased 51% year-over-year to 91.2 million.
Revenue increased 54% year-over-year to $281.2 million.
Net loss reduced to $10.1 million.
Adjusted EBITDA was $39.5 million, up $74.9 million from the prior year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Reddit anticipates continued growth in the third quarter of 2024, projecting revenue between $290 million and $310 million and Adjusted EBITDA between $40 million and $60 million.
Positive Outlook
- Revenue in the range of $290 million to $310 million
- Adjusted EBITDA in the range of $40 million to $60 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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