Reddit Inc (RDDT) Q3 2024 Earnings Call Highlights: Record Revenue Growth and User Milestones [Yahoo! Finance Canada]
Reddit, Inc. Class A (RDDT)
Company Research
Source: Yahoo! Finance Canada
Advertising Revenue: $315.1 million, a 56% increase year over year. Net Income: $30 million, up $40 million sequentially. Gross Margin: 90% in Q3. Adjusted EBITDA Margin: 27% in Q3. Free Cash Flow: $70 million in Q3. International Revenue Growth: 57% year over year. Data Licensing Revenue: $33.2 million in Q3. Operating Cash Flow: $72 million in Q3. Cash on Balance Sheet: $1.74 billion, up $46 million sequentially. Stock-Based Compensation: $83 million, 24% of revenue. Q4 Revenue Guidance: $385 million to $400 million, 54% to 60% growth year over year. Q4 Adjusted EBITDA Guidance: $110 million to $125 million, 30% margin at midpoint. Release Date: October 29, 2024 For the complete transcript of the earnings call, please refer to the full earnings call transcript Positive Points Reddit Inc ( NYSE:RDDT ) achieved a significant milestone by reaching over 100 million daily active users (DAUs) for the first time, marking a 47% increase from the previous year.
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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
- 11/12/24 - Form SC
- 11/12/24 - Form SC
- 11/8/24 - Form 4
- RDDT's page on the SEC website