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Will Reddit achieve its projected Q4 2024 revenue of at least $385 million?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official Q4 2024 financial report from Reddit
Story
Reddit Shares Surge 16% to All-Time High on Q3 Earnings Beat
Oct 29, 2024, 08:19 PM
Reddit has reported strong third-quarter earnings, surpassing revenue and adjusted EBITDA estimates. The company announced Q3 revenue of $348.4 million, beating the estimate of $312.8 million, and adjusted EBITDA of $94 million, significantly higher than the estimated $60 million. Advertising revenue reached $315.1 million. Despite a net loss increase to $18.1 million from $7.4 million year over year, Reddit's shares surged by 16%, reaching an all-time high and closing at $100 per share. The company has also provided a positive outlook for Q4, projecting revenue between $385 million and $400 million, above the estimated $356.2 million, and adjusted EBITDA between $110 million and $125 million. Reddit's stock has increased 77% since its IPO in March, which was priced at $34 per share. Additionally, Reddit reported a beat in daily active users and ARPU.
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