From Financial Modeling Prep: 2024-10-29 20:36:00

Reddit (NYSE:RDDT) shares surged 24% after reporting Q3 earnings of $0.16 per share, beating expectations of a $0.23 loss. Revenue rose 68% to $348.4 million, with 97.2 million daily active users, up 47% year-over-year.

The company achieved GAAP profitability with a net income of $29.9 million and adjusted EBITDA of $94.1 million, a significant improvement from the previous year.

Reddit projects Q4 revenue between $385 million and $400 million, exceeding estimates. Gross margin is at 90.1%, with positive operating cash flow of $71.6 million and free cash flow of $70.3 million, showcasing strong financials.



Read more at Financial Modeling Prep:: Reddit Shares Surge 24% After Strong Q3 Results an…