Reddit Shares Soar 22%, Hits $100, After Q3 Earnings Beat Forecasts

Benzinga 2024-10-30

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Reddit shares surged 22% in after-hours trading, exceeding $100 per share, following strong third-quarter earnings that outperformed analyst expectations. Reddit exceeded analyst expectations with a profit per share and revenue that outpaced forecasts. Daily active users and revenue per user both surpassed analyst expectations. The platform benefited from Google search updates that have attracted new, albeit less profitable, logged-out users. The stock has nearly tripled in value since going public.

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