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Reddit Newsroom
The last quarter's revenue and earnings on Reddit (RDDT.US) were better than expected.
Social media Reddit (RDDT.US) announced that in the third quarter, it turned losses into profits, recording a net profit of 29.9 million US dollars, compared to a net loss of 7.4 million US dollars in the same period last year, with earnings per share of 16 cents, surpassing market expectations. The stock price surged 22% after hours, with the price reaching over 100 US dollars for the first time.
Breaking news: Reddit's after-hours trading soared nearly 24%, with fourth-quarter revenue and EBITDA guidance exceeding expectations.
As of October 30th, Reddit's post-market trading surged by 23.98%. Reddit's third-quarter revenue was 0.3484 billion dollars, with analysts expecting 0.3128 billion dollars. Net income in the third quarter was 0.0299 billion dollars, with analysts expecting a loss of 0.0138 billion dollars. Adjusted EBITDA for the third quarter was 0.0941 billion dollars, with analysts expecting 0.0589 billion dollars.
Surprise! Making profits for the first time in history, the stock price of the "usa Tieba" Reddit soared by more than 20%.
Reddit's third-quarter sales increased by 68% year-on-year to $0.3484 billion, with adjusted EBITDA of $94.1 million, achieving its first-ever profitability. Advertising business revenue saw a significant growth of 56%, and the company expects fourth-quarter revenue to continue growing in the range of $0.385-0.4 billion.
CNBC Daily Open: Everyone Loves Reddit
Futu Morning Post | Global asset frenzy! Nasdaq, gold hit record highs, bitcoin nearing historical highs; Cloud business strong growth! Google up nearly 6% after hours.
Da Ma: US stocks have not fully priced in a Trump victory; The "fear index" VIX has turned net long for the first time since 2018; AMD fell more than 7% after-hours, fourth-quarter revenue outlook fell short of analyst's expectations.
U.S. stocks close | The three major indexes are mixed, with the Nasdaq hitting a new high for the fourth consecutive rise; chip stocks are strong, AMD closed up 4% but fell over 7% after hours due to poor guidance; cryptos concept stocks are rising.
The USA economy is mixed, with consumer confidence increasing but job vacancies hitting a three-and-a-half-year low. The Dow Jones and small cap stocks fell, while the S&P and Nasdaq turned higher. The chip index rose by more than 2%, while the Chinese concept index turned down by over 1%. Trump's media fluctuations have repeatedly caused trading to be suspended.
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