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Reddit Inc

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Reddit Inc (RDDT) posts stellar Q2 results, eyes global expansion

Reddit Inc (RDDT) reported a robust Q2 performance marked by significant user and revenue growth, driven by international expansion and product enhancements. The company's focus on data licensing revenue and AI-driven ad optimization showcased its commitment to innovation. While Reddit faces challenges in a competitive landscape, opportunities lie in expanding advertising strategies, improving user experience, and further international expansion.

Reddit achieves profitability and global growth, eyes new revenue streams

Reddit's Q3 performance reflects strong revenue growth, profitability, and international expansion, driven by investments in ad tech and user experience.
While challenges lie in sustaining growth and balancing innovation with user experience, opportunities in global expansion and new revenue streams are abundant.
With a focus on scaling profitably and enhancing ad solutions, Reddit is well-positioned to capitalize on its strengths and navigate industry challenges for continued success.

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Reddit, Inc. operates an entertainment, social networking, and news website where registered community members can submit content. It provides online news services where users can select and rank web content. The firm also offers a personalized filter on the day's story, using previous votes to determine what new things the user might like to read. The company was founded by Steven Ladd Huffman and Alexis Ohanian on June 23, 2005 and is headquartered in San Francisco, CA.

Reddit is going public. Read about how the founders went from idea to IPO in the Public app.

2005: Reddit is founded by Steve Huffman and Alexis Ohanian. The duo are brought into the Y-combinator startup accelerator and raise $100,000 in funding.



2006: Huffman & Ohanian sell Reddit to Condé Nast for $10 million.

2008: Reddit introduces subreddits.

2011: Condé Nast turns Reddit into an independent entity to bring startup culture back to the business.



March 2012: Former Facebook executive Yishan Wong becomes Reddit CEO. 


2012: Barack Obama hosts an Ask Me Anything (AMA) town hall on Reddit.


September 2014: Reddit raises $50 million. High-profile investors include Sam Altman, Peter Thiel, Jared Leto, Josh Kushner, and Snoop Dogg.

November 2014: Wong resigns and Ellen Pao takes the CEO position.

2014: Alex Ohanian returns as executive chairman.

July 2015: Pao resigns after facing backlash from the Reddit community over her firing of the platform’s director of talent, who managed the popular AMA feature. Co-founder Steve Huffman returns as CEO.


2019: Reddit receives $150 million investment from Chinese tech giant Tencent. The deal sparks controversy over China’s anti free speech policies. 

June 2020: Ohanian resigns as executive chairman and recommends Reddit fill the position with a diverse candidate.


February 2024: Reddit Files for IPO.

March 2024: Reddit goes public.

-Techcrunch
-The Guardian
-CNBC
-The Verge
-CNET
-Forbes
-Reddit S-1
 
*This content is for educational purposes and is not investment advice. 

2005: Reddit is founded by Steve Huffman and Alexis Ohanian. The duo are brought into the Y Combinator startup accelerator and raise $100,000 in funding.


2006: Huffman & Ohanian sell Reddit to Condé Nast for $10 million.

2008: Reddit introduces subreddits.

2011: Condé Nast turns Reddit into an independent entity to bring startup culture back to the business.


March 2012: Former Facebook executive Yishan Wong becomes CEO of Reddit. 



August 2012: Barack Obama hosts an Ask Me Anything (AMA) town hall on Reddit.

September 2014: Reddit raises $50 million. High-profile investors include Sam Altman, Peter Thiel, Jared Leto, Josh Kushner, and Snoop Dogg.

November 2014: Wong resigns and Ellen Pao takes the CEO position.

2014: Alex Ohanian returns as executive chairman.

2019: Reddit receives $150 million investment from Chinese tech giant Tencent. The deal sparks controversy over China’s anti free speech policies. 


June 2020: Ohanian resigns as executive chairman and recommends Reddit fill the position with a diverse candidate.

2021: Wall Street Bets brings forth a short squeeze campaign to help rally GameStop shares.

2023: Reddit raises data (API) prices due to increased demand from AI firms looking to train Large Language Models. Thousands of subreddits go offline in protest to rising API costs.

March 2024: Reddit goes public on the New York Stock Exchange.

Reddit, Inc. reported 51% DAU growth and 57% WAU growth for Q2, but struggles with monetizing logged-out users, who grew 74% YoY. The company is reporting strong adjusted profits, but insiders have already started unloading shares, with the IPO lock-up expiring after Q2 results. The stock's valuation is high, trading at a 9.0x forward EV/S multiple, making it pricier than peers like Meta Platforms and Pinterest.

Reddit: Surprisingly Good Start

Reddit's strategic AI partnerships with OpenAI and Sprinklr enhance user engagement and ad revenue, positioning it well in the AI-driven social media landscape. Despite recent stock underperformance, Reddit's strong user growth and data monetization underscore its potential for future gains. Reddit's Q2 earnings report shows record highs in user engagement and revenue, driven by AI-enhanced advertising tools and strategic collaborations.

Reddit: Explosive User Growth Powered By AI

Reddit's shares have outperformed the S&P 500, rising 21.1% since its IPO, driven by robust revenue growth and increased Daily Active Uniques. Revenue surged 53.7% year-over-year to $281.2 million, with significant growth in DAUq, particularly from the U.S., boosting monetization and user engagement. Profitability metrics are improving rapidly, with operating cash flow turning positive and EBITDA showing substantial gains, despite a net loss due to stock-based compensation.

Reddit: Continued Growth Justifies Additional Upside

Reddit's mobile and web applications went down on Wednesday afternoon, with more than 150,000 users reporting outages on DownDetector as of 1:30 PM in San Francisco. When trying to access Reddit's homepage, users were met with a message reading, “Server error.

It's not just you: Reddit is down

Reddit's mobile and web applications went down on Wednesday afternoon, with more than 150,000 users reporting outages on Downdetector as of 1:30 p.m. in San Francisco.

Reddit back online after a software update took it down

VerticalScope Holdings is a user-generated content social media platform and app much like Reddit with over 120 million monthly active users. It has good FCF yield combined with reasonable price/book multiples, attracting me as a value investor. Management has controlled costly user acquisition expenses and SG&A to deliver shareholder value with revenues.

VerticalScope Holdings: The Undervalued Canadian Reddit

SAN FRANCISCO--(BUSINESS WIRE)--Reddit, Inc. (NYSE: RDDT), announced that on Wednesday, September 11, 2024, Steve Huffman, Reddit Co-Founder and CEO, will participate in a fireside chat at the Goldman Sachs Communacopia + Technology Conference in San Francisco, CA. The session will begin at 10:50 a.m. PT / 1:50 p.m. ET. During the fireside chat, Mr. Huffman will also address questions submitted in advance by Reddit users in the investor relations subreddit, r/RDDT. A live webcast and replay wil.

Reddit to Participate in Goldman Sachs Communacopia + Technology Conference

Shares of Reddit have lost ~30% from YTD highs and are trading back near its original Day 1 close post-IPO. The company recently reported incredible Q2 results that featured accelerating revenue growth and daily active users that trumped peers like Snap and Pinterest. The company's data licensing revenue stream also continues to multiply y/y. This could become a much more significant revenue base if Reddit follows in Twitter's footsteps.

Reddit: Buy The Dip With Confidence (Rating Upgrade)

Owens Corning

Uber

Wall Street analysts understand that their reputations and careers are on the line each time they issue a recommendation for—or against—a stock. Knowing this, investors would find the weight of the decision-making and stock rating all the more important now that the S&P 500 has survived one of the worst weeks of 2024.

3 High-Potential Stocks Analysts Say Could Soar

Alphabet

Reddit has climbed to the top of Google results following a series of updates by the search giant. Reddit, which held its IPO in March, needs to convince a growing number of those visitors to register for official accounts, as so-called logged-in users generate much higher rates of ad revenue.

Reddit's increased reliance on Google traffic has Wall Street anxious to see if visitors sign up

As expected, Reddit's (NASDAQ: RDDT ) plan to flood the comments section of its platform with advertising is having the desired effect. Ad revenue surged 42% in the second quarter t0 $253.1 million.

Reddit Ad Revenue Is Soaring. That's Not Good for RDDT Stock.

Palantir Technologies

Shopify

We're into the dog days of summer, and markets remain volatile. But volatility creates opportunities for investors.

3 Stocks That Could Make Your Summer Unforgettable

Reddit's (RDDT) second-quarter 2024 results benefit from strong daily active user growth, higher ARPU and AI-powered services.

Reddit (RDDT) Shares Up on Strong Q2 Earnings, Revenues Beat

After the stock market started a brief sell-off this week, most market participants let their emotions get the best of their portfolios, either selling out of stocks that they should never let go of or even starting prematurely buying the dip on the entire market, which is just as detrimental as letting go of winning names.

Reddit Stock Confirms More Upside Potential for Upcoming Quarters

Reddit's CEO is hinting that the social media site could explore some paid options for select subreddits now that it's publicly traded.

Reddit stock slumps after CEO Steve Huffman teases paywalled subreddits

Reddit Inc., which reported its second quarterly results as a public company Tuesday, is well-positioned to reap the benefits of the “treasure trove” of user-generated content on the platform, says Baird Equity Research.

Reddit set to harness ‘treasure trove' of user-generated content, says analyst

Reddit, Inc RDDT is benefiting from Alphabet Inc GOOGL Google search changes as well as partnerships with artificial intelligence innovator OpenAI and Sprinklr Inc CXM.

Reddit Partnerships With OpenAI, Google And Sprinklr Drive Upside: Analysts

Reddit (NYSE: RDDT ) has been among the better performers in the social media space, at least up until July. While RDDT stock is still in the green on a year-to-date (YTD) basis, the stock had climbed more than 60% trough to peak in July before coming back to earth.

Reddit News: What's Going On With RDDT Stock Today?

Reddit, Inc. (NYSE:RDDT ) Q2 2024 Results Conference Call August 6, 2024 5:00 PM ET Company Participants Jesse Rose - Head of Investor Relations Steve Huffman - Co-Founder & Chief Executive Officer Jen Wong - Chief Operating Officer Drew Vollero - Chief Financial Officer Conference Call Participants Doug Anmuth - JPMorgan Laura Martin - Needham & Company Ron Josey - Citi Brian Nowak - Morgan Stanley Eric Sheridan - Goldman Sachs Rich Greenfield - LightShed Andrew Boone - JMP Securities Tom Champion - Piper Sandler Daniel Salmon - New Street Research Benjamin Black - Deutsche Bank Alan Gould - Loop Capital Operator Good afternoon. My name is Krista, and I will be your conference operator today.

Reddit, Inc. (RDDT) Q2 2024 Earnings Call Transcript

Reddit (RDDT) beat analysts' expectations on the top and bottom lines in its second quarterly earnings report since its March initial public offering (IPO).

Reddit Narrows Losses as Revenue Surges on Advertising Growth

Reddit Inc. reported its second quarterly results as a public company Tuesday, with the social-media platform reporting better-than-expected revenue and a narrower-than-expected loss, and giving sales guidance that surpassed Wall Street's expectations.

Reddit reports second-quarter revenue beat and narrower-than-expected loss

Reddit stock was lower late Tuesday, despite reporting Q2 sales that exceeded expectations and a narrowed loss.

Reddit Posts Stronger-Than-Expected Sales, Narrows Losses For Q2

Reddit reported earnings for the second time as a public company. Revenue topped analysts' estimates, and the company's loss was narrower than analysts expected.

Reddit reports better-than-expected results for second quarter

Reddit forecast third-quarter revenue above Wall Street estimates on Tuesday, a sign that a recovering digital ad market would draw new advertisers to the social media platform.

Reddit forecasts quarterly revenue above estimates on growing digital ad spend

SAN FRANCISCO--(BUSINESS WIRE)--Reddit, Inc. (NYSE: RDDT) today announced financial results for the quarter ended June 30, 2024. Reddit's complete financial results and management commentary can be found in its shareholder letter on Reddit's Investor Relations website at https://investor.redditinc.com. “We had a strong quarter across the board and more people are visiting Reddit than ever before,” said Steve Huffman, Co-Founder and CEO of Reddit. “Our work to improve the platform is driving res.

News for Reddit Inc Stock (RDDT)