Reddit beats second-quarter revenue and earnings estimates
Reddit earnings beat expectations as revenue jumps 61% and users grow 18% See how strong cash flow and upbeat guidance could shape Reddit's next move
Reddit reported strongerthanexpected secondquarter results on Thursday, with revenue rising 61% from a year earlier to $805 million and earnings per share of $1.25, ahead of analyst forecasts.
The company said net income increased to $253 million, while free cash flow more than doubled from a year earlier. Reddit also said user growth remained solid, with global daily active unique users up 18% to 130.3 million.
For the third quarter, Reddit guided for revenue of $860 million to $870 million and adjusted earnings of $385 million to $395 million, both above Wall Street estimates. Even so, CEO Steve Huffman said search referral traffic has been uneven, and investors remain focused on how changes in Googledriven traffic could affect future monetization.