Reddit Third Quarter 2024 Earnings: Beats Expectations

Reddit (NYSE:RDDT) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$348.4m (up 68% from 3Q 2023).
• Net income: US$29.9m (up from US$7.38m loss in 3Q 2023).
• Profit margin: 8.6% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue.
• EPS: US$0.18 (up from US$0.13 loss in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Reddit Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates.

Looking ahead, revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Interactive Media and Services industry in the US.

Performance of the American Interactive Media and Services industry.

The company's shares are up 49% from a week ago.

Risk Analysis

We should say that we've discovered 2 warning signs for Reddit that you should be aware of before investing here.

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