Reddit Announces Third Quarter 2024 Results
Reddit, Inc. Class A (RDDT)
Company Research
Source: Business Wire
Daily Active Uniques (“DAUq”) increased 47% year-over-year to 97.2 millionStrong revenue growth of 68% to $348.4 millionAchieved GAAP profitability with net income of $29.9 million and net margin of 8.6%Adjusted EBITDA1 of $94.1 million and Adjusted EBITDA1 margin of 27.0%Positive operating cash flow of $71.6 million and Free Cash Flow1 of $70.3 million, invested $66 million to net settle 1.2 million employee shares SAN FRANCISCO--(BUSINESS WIRE)--Reddit, Inc. (NYSE: RDDT) today announced financial results for the quarter ended September 30, 2024. Reddit’s complete financial results and management commentary can be found in its shareholder letter on Reddit’s Investor Relations website at https://investor.redditinc.com.“It was another strong quarter for Reddit and our communities as we achieved important milestones, including new levels of user traffic, revenue growth, and profitability,” said Steve Huffman, Co-Founder and CEO of Reddit. “Reddit continues to be one of the most visit
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News
- Reddit Partners with InMarket to Measure the Real-World Impact of Advertising Campaigns with Lift Conversion Index (LCI)PR Newswire
- Reddit, Inc. (NYSE: RDDT) had its price target raised by analysts at JMP Securities from $84.00 to $118.00. They now have a "market outperform" rating on the stock.MarketBeat
- Reddit, Inc. (NYSE: RDDT) had its price target raised by analysts at Citigroup Inc. from $70.00 to $120.00. They now have a "buy" rating on the stock.MarketBeat
- Reddit, Inc. (NYSE: RDDT) had its price target raised by analysts at Sanford C. Bernstein from $65.00 to $85.00. They now have an "underperform" rating on the stock.MarketBeat
- Reddit, Inc. (NYSE: RDDT) had its price target raised by analysts at Roth Mkm from $89.00 to $116.00. They now have a "buy" rating on the stock.MarketBeat
RDDT
Earnings
- 10/29/24 - Beat
RDDT
Sec Filings
- 11/15/24 - Form 144
- 11/15/24 - Form 144
- 11/14/24 - Form SC
- RDDT's page on the SEC website