Reddit’s stock price hit $47 per share during its IPO, with CEO Steve Huffman ringing the bell at the NYSE. The company’s third-quarter revenues reached $585 million, beating estimates. Earnings per share were 80 cents, surpassing predictions of 51 cents. Fourth-quarter sales are projected to be between $655 million and $665 million, exceeding Wall Street’s forecast of $638 million. Daily active users grew 19% to 116 million, attracting more advertisers and generating revenue from new accounts. Other revenues from data licensing partnerships with Google and OpenAI increased 7% to $36 million.

Read more at CNBC: Reddit (RDDT) stock pops on strong advertising and user growth