Reddit Inc.
Reddit Reports Strong Third Quarter 2024 Financial Results
Summary
Reddit, Inc. announced its financial results for the third quarter of 2024, reporting a 68% year-over-year increase in revenue to $348.4 million. The company achieved significant milestones with a 47% increase in Daily Active Uniques (DAUq) to 97.2 million, a 90.1% gross margin, and a net income of $29.9 million. Reddit also provided guidance for the fourth quarter, estimating revenue between $385 million and $400 million and Adjusted EBITDA between $110 million and $125 million.
Profitelligence Alerts
Get alerts for RDDT
Be first to know when Reddit Inc. files with the SEC.
Filing Categories
Exhibits (2)
Advertisement
About Reddit Inc.
Reddit Inc. operates as a social media platform known for hosting a vast array of communities, commonly referred to as subreddits, where users can discuss, share content, and connect over shared interests. As a user-generated content platform, Reddit allows anyone to create posts in the form of text, links, images, or videos, which can then be voted on by other users to determine its prominence and visibility within a subreddit. Its structure facilitates niche discussions across diverse topics, ranging from technology and science to entertainment and hobbies. This community-driven model makes Reddit a significant player in digital advertising as businesses target tailored audiences with precision. Founded in 2005 and headquartered in San Francisco, Reddit has evolved into a pivotal online forum for social engagement, content discovery, and market insights, influencing digital culture and public opinion on a global scale.
Official SEC Documents
Advertisement