Reddit's stock jumps 14% on stellar earnings
Reddit's stock popped over 14% on Friday after the company crushed its third-quarter earnings.
Revenue jumped 68% to $585 million, with ad sales leading the way.
Net income landed at $163 million—almost a third of total revenue.
Reddit isn't just growing; it's making real money
Reddit isn't just growing; it's making real money.
With adjusted EBITDA at $236 million (a solid 40% margin), Reddit is proving it can compete in the digital ad game and turn user buzz into profits.
Daily active users hit 116 million, up 19%
More people are using Reddit every day—daily active users hit 116 million, up 19%. International growth was even faster, and advertisers flocked to the platform (up 75%).
CEO Steve Huffman credits smarter search tools and global expansion for these wins.
Morgan Stanley analyst Brian Nowak noted that automation made ads more efficient and boosted cash flow.