Loading...
Market
Will Reddit's stock price exceed $110 per share by the end of Q4 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Stock market data from a reputable financial news outlet
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.
View original story
Similar markets
Below $90 • 25%
$90 to $100 • 25%
$101 to $110 • 25%
Above $110 • 25%
Yes • 50%
No • 50%
Reddit outperforms Facebook • 33%
Reddit outperforms Twitter • 33%
Reddit underperforms both • 34%
Below $385 million • 25%
$385 million to $392 million • 25%
$393 million to $400 million • 25%
Above $400 million • 25%
