Reddit Inc ( RDDT ) reported second-quarter financial results Tuesday after the close. Here’s a rundown of the report.
Q2 Earnings: Reddit ( RDDT ) reported second-quarter revenue of $281.2 million, beating the consensus estimate of $253.58 million, according to Benzinga Pro. The company reported a quarterly loss of 6 cents per share, which may not compare to analyst estimates for a loss of 33 cents per share.
Total revenue was up 54% on a year-over-year basis. Daily active unique users (DAUq) increased 51% year-over-year to 91.2 million. Weekly active uniques increased 57% year-over-year to 342.3 million.
Reddit ( RDDT ) said it generated operating cash flow of $28.4 million and free cash flow of $27.2 million in the quarter.
“We had a strong quarter across the board and more people are visiting Reddit ( RDDT ) than ever before. Our work to improve the platform is driving results and we are well positioned to continue to grow and deliver on our long-term mission,” said Steve Huffman, co-founder and CEO of Reddit ( RDDT ).
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Q3 Guidance: Reddit ( RDDT ) expects third-quarter revenue to be in the range of $290 million to $310 million. The company expects third-quarter Adjusted EBITDA of $40 million to $60 million.
Management will hold a conference call to discuss these results at 5 p.m. ET.
RDDT Price Action: Reddit ( RDDT ) shares were down 2.50% after hours at $53 at the time of publication, according to Benzinga Pro.