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Stephanie Turner
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a year ago
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Reddit's revenue grew 68% in the past quarter
- Reddit's Q3 2024 revenue rose 68% to $348.4 million
- Net income was $29.9 million (year ago loss $7.4 million)
- Revenue for Q4 2024 is expected to be $385-400 million
- Number of active users grew 47% to 97.2 million
- ARPU exceeded analysts' expectations, already totaling $3.58
- Reddit's share price nearly tripled after the IPO
- At the close of trading, Reddit's valuation was $13.6 billion
- Reddit shares rose 22% to exceed $100/share for the first time.
- The company's financial results exceeded analysts' expectations
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