Ahmedabad Stock：Reddit (REDDIT) Surpasses Q3 Expectations and Predicts Strong Growth

Social media company Reddit reported third-quarter earnings that exceeded analyst expectations, leading to a 16% increase in its stock price in extended tradingAhmedabad Stock. The company forecasts fourth-quarter revenue to be between $385 million and $400 million, surpassing the analysts' average estimate of $357.9 million. Adjusted earnings for the fourth quarter are projected to be between $110 million and $125 million, higher than the average prediction of $85.2 million.

In the third quarter, Reddit's revenue grew by 68% compared to the previous year, achieving profitability with a net profit of $29.9 million, contrasting with a net loss of $7.4 million in the same period last year. Daily active users increased by 47% year-over-year to 97.2 million, outperforming analysts' expectations of 96.5 million. Average revenue per user was $3.58, exceeding the forecasted $3.24.Kolkata Stocks

Steve Huffman, Reddit's CEO, expressed satisfaction with the company's performance, highlighting milestones in user traffic, revenue growth, and profitabilityKanpur Investment. Since its IPO in March, Reddit's stock price has more than doubled, closing at $81.74 and bringing its market value to $13.6 billion.

Search updates by Google have helped Reddit improve its content rankings, attracting numerous new users. However, financial disclosures revealed that new users, referred to as "logged-out users," generate less online advertising revenue than logged-in users, who typically spend more time on the platform. Globally, logged-out users grew by 70% to 53.1 million, while logged-in users increased by 27% to 44.1 million.

To convert new users into long-term members, Reddit has been enhancing the sign-up process and developing more recommendation featuresAhmedabad Wealth Management. CEO Huffman noted that Reddit's direct traffic remains resilient to any changes in Google search.Mumbai Wealth Management

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