Reddit’s (NYSE: RDDT) stock surged over 7% after reporting a 68% revenue increase to $585 million for the third quarter. The platform saw a 19% rise in daily visitors to 116 million and a 21% increase in weekly users to 444 million, solidifying its position as the third most-visited website in the U.S.

Advertising revenue grew by 74% to $549 million, with Reddit investing in AI technology for better ad targeting. Profits soared as net income rose fivefold to $163 million, surpassing Wall Street’s EPS projections. Despite Reddit’s success, it wasn’t among the 10 best stocks recommended by The Motley Fool Stock Advisor team.

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Read more at Nasdaq: Why Reddit Stock Jumped Today