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Sep 30, 2024
Reddit Inc Q3 2024 Earnings Report
Reddit Inc. reported strong Q3 2024 results, marked by significant user growth, revenue increase, and GAAP profitability.
Key Takeaways
Reddit Inc. announced its Q3 2024 financial results, demonstrating strong growth with a 68% increase in revenue to $348.4 million. The company achieved GAAP profitability with a net income of $29.9 million. Daily Active Uniques (DAUq) increased by 47% year-over-year, reaching 97.2 million.
Revenue increased by 68% year-over-year to $348.4 million.
Net income was $29.9 million, a significant improvement from the previous year's net loss of $(7.4) million.
Adjusted EBITDA was $94.1 million, compared to $(6.9) million in the prior year.
Daily Active Uniques (DAUq) increased 47% year-over-year to 97.2 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the fourth quarter of 2024, Reddit estimates revenue in the range of $385 million to $400 million and Adjusted EBITDA in the range of $110 million to $125 million.
Positive Outlook
- Revenue is expected to be between $385 million and $400 million.
- Adjusted EBITDA is projected to be between $110 million and $125 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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