financetom
Business
financetom
/
Business
/
Reddit Q2 Earnings: 'Strong Quarter Across The Board,' Revenue Beat, Daily Active Users Up 51% And More
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Reddit Q2 Earnings: 'Strong Quarter Across The Board,' Revenue Beat, Daily Active Users Up 51% And More
Aug 6, 2024 1:44 PM

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 ).

Check This Out: Wall Street Rebounds After Selloff, VIX Falls, Dollar Surges Against Yen: What’s Driving Markets Tuesday?

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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Symbotic Fiscal Q2 Loss Narrows, Revenue Rises; Fiscal Q3 Revenue Outlook Set
Symbotic Fiscal Q2 Loss Narrows, Revenue Rises; Fiscal Q3 Revenue Outlook Set
May 26, 2025
04:46 PM EDT, 05/07/2025 (MT Newswires) -- Symbotic ( SYM ) reported a fiscal Q2 loss late Wednesday of $0.04 per diluted share, narrowing from a loss of $0.09 a year earlier. Analysts polled by FactSet expected a loss of 0.04. Revenue for the quarter ended March 29 was $549.7 million, up from $393.3 million a year earlier. Analysts surveyed...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Research Alert: Fang: Growth By Acquisition In Q1, With Capex Guidance Down
Research Alert: Fang: Growth By Acquisition In Q1, With Capex Guidance Down
May 26, 2025
06:40 PM EDT, 05/05/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: FANG reported Q1 operating EPS of $4.54, beating consensus by $0.34, while production reached 850,700 boe/d, up 85% Y/Y but slightly below guidance of 860,000-875,000 boe/d. Average realized pricing held...
Report: Michael Strahan seeking Giants ownership stake
Report: Michael Strahan seeking Giants ownership stake
May 26, 2025
Former New York Giants star Michael Strahan is pursuing an opportunity for an ownership stake in the team, Sportico reported Monday. Strahan has reportedly teamed up with billionaire Marc Lasry to potentially purchase a piece of the up to 10 percent of the Giants that is up for sale. The current owners, the Mara and Tisch families, hired a banker...
Copyright 2023-2026 - www.financetom.com All Rights Reserved