Reddit Q2 Earnings: 'Strong Quarter Across The Board,' Revenue Beat, Daily Active Users Up 51% And More
Portfolio Pulse from Adam Eckert
Reddit Inc (NYSE:RDDT) reported strong Q2 earnings with revenue of $281.2 million, beating estimates. Daily active users increased by 51% year-over-year. Despite a quarterly loss of 6 cents per share, the loss was significantly lower than expected. The company provided positive Q3 revenue guidance.
August 06, 2024 | 8:25 pm
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Reddit Inc reported strong Q2 earnings with revenue of $281.2 million, beating estimates. Daily active users increased by 51% year-over-year. Despite a quarterly loss of 6 cents per share, the loss was significantly lower than expected. The company provided positive Q3 revenue guidance.
The strong Q2 earnings report, significant increase in daily active users, and positive Q3 guidance are likely to boost investor confidence and positively impact Reddit's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100