Streetbeat News

RDDT

Reddit, Inc.

https://www.redditinc.com

Industry

Internet Content & Information

Reddit, Inc. operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another. The company was founded in 2005 and is headquartered in San Francisco, California. Reddit, Inc. operates as a subsidiary of Advance Publications, Inc.

Open

121.57

Mkt cap

23B

Volume

7.6M

High

133.22

P/E Ratio

-43.24

52-wk high

133.22

Low

121.57

Div yield

N/A

52-wk low

37.35

Reddit Inc. (NYSE:RDDT) plans to introduce monetization features for developers, allowing users to create and earn money on the platform. This move aims to diversify revenue streams and enhance user engagement. Despite a 54% year-over-year revenue increase in Q2, Reddit's stock declined due to the upcoming end of the pre-IPO lockup and conservative forecasts.

Portfolio Pulse from Kaustubh Bagalkote

August 07, 2024 | 2:35 am

Cathie Wood's Ark Invest made significant trades in Amazon, Reddit, and AMD. Ark ETFs including ARKF, ARKK, ARKW, ARKQ, and ARKX were involved. Reddit reported strong Q2 revenue but faces challenges. Amazon remains a popular choice for Ark. AMD shares rose amid NVIDIA's design flaw issues.

Portfolio Pulse from Benzinga Neuro

August 07, 2024 | 2:29 am

Reddit Inc. (NYSE:RDDT) has projected Q3 revenue above Wall Street expectations, indicating a rebounding digital ad market. Despite this, the stock declined due to the upcoming end of the pre-IPO lockup, low ARPU growth, and a conservative forecast. Reddit's strong Q2 performance and content licensing deals with Alphabet Inc. (NASDAQ:GOOGL) and Microsoft Corp. (NASDAQ:MSFT) backed OpenAI have sparked optimism.

Portfolio Pulse from Benzinga Neuro

August 07, 2024 | 1:41 am

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.

Portfolio Pulse from Adam Eckert

August 06, 2024 | 8:25 pm

Reddit has provided its financial outlook for Q3 2024, estimating revenue between $290 million and $310 million, surpassing the $253 million estimate. Adjusted EBITDA is projected to be between $40 million and $60 million.