Welcome to our dedicated page for REDDIT news (Ticker: RDDT), a resource for investors and traders seeking the latest updates and insights on REDDIT stock.
Reddit, Inc. operates a social media platform organized around user-created communities, posts, voting and comments. Company news centers on quarterly and annual results, Daily Active Uniques, average revenue per unique, advertising revenue, other revenue and the role of Reddit’s community-driven content in search, data and AI use cases.
Updates also cover shareholder letters, earnings calls that incorporate questions from the Reddit community, product and global expansion commentary, public-company milestones and capital actions such as Class A common stock repurchase authorization.
Reddit (NYSE: RDDT) announced strong Q2 2024 results, with revenue increasing 54% year-over-year to $281.2 million and Daily Active Uniques (DAUq) growing 51% to 91.2 million. The company reported a net loss of $10.1 million, significantly reduced from the prior year. Notably, Reddit achieved positive Adjusted EBITDA of $39.5 million, up $74.9 million, with a 14% margin.
Other highlights include:
- Weekly Active Uniques (WAUq) up 57% to 342.3 million
- Ad revenue increased 41% to $253.1 million
- Other revenue surged 691% to $28.1 million
- Gross margin improved to 89.5%
- Free Cash Flow of $27.2 million, up $82.1 million from prior year
Reddit (NYSE: RDDT) has announced that its second quarter 2024 financial results will be released after market close on Tuesday, August 6, 2024.
A conference call to discuss these results will follow at 2 p.m. PT / 5 p.m. ET on the same day.
Both the live webcast and a replay of the conference call will be available on Reddit’s Investor Relations website and the investor relations subreddit r/RDDT. Additionally, Reddit will solicit questions from the community at r/RDDT and post responses after the earnings call on its Investor Relations website and subreddit.
Integral Ad Science (NAS: IAS) has announced a partnership with Reddit (NYSE: RDDT) to provide enhanced AI-driven media measurement solutions for advertisers.
The collaboration aims to offer comprehensive Brand Safety, Suitability, Viewability, and Invalid Traffic (IVT) measurement through IAS's Total Media Quality (TMQ) product suite.
This initiative will allow advertisers to scale their campaigns across Reddit's extensive network of interest-based communities with increased transparency and confidence. Advertisers will benefit from frame-by-frame content analysis, unified reporting via IAS Signal, and adherence to Global Alliance for Responsible Media (GARM) standards.
The partnership is set to launch later this year.
Reddit, Inc. (NYSE: RDDT) will participate in two upcoming investor conferences with COO Jen Wong and CEO Steve Huffman. The events include Needham's 19th Annual Technology, Media, and Consumer Conference and J.P. Morgan's 52nd Annual Global Technology, Media, and Communications Conference. The webcasts and replays will be available on Reddit's investor relations website and subreddit.
Reddit, Inc. (NYSE: RDDT) reported strong financial results for the first quarter of 2024. Record user traffic with DAUq up 37% to 82.7 million, revenue increased 48% to $243.0 million. The net loss was driven by IPO expenses, but there was a positive free cash flow of $29.2 million. Adjusted EBITDA was $10.0 million, marking the first profitable Q1. Gross margin improved to 88.6%. Stock-based compensation expenses were higher due to IPO charges.
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