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 >
US government to take 5% stake in Lithium Americas and joint venture with General Motors, source says
US government to take 5% stake in Lithium Americas and joint venture with General Motors, source says
Sep 30, 2025
Sept 30 (Reuters) - The U.S. Department of Energy will take a 5% stake in Lithium Americas ( LAC ) and a separate 5% stake in the company's Thacker Pass lithium mine joint venture with General Motors ( GM ), according to a source familiar with negotiations. Reuters reported last week that Trump administration officials were in discussions with Lithium...
Metropolitan Bank Holding Names Anthony Fabiano as Board Chair
Metropolitan Bank Holding Names Anthony Fabiano as Board Chair
Sep 30, 2025
05:35 PM EDT, 09/30/2025 (MT Newswires) -- Metropolitan Bank Holding ( MCB ) said late Tuesday it named Anthony Fabiano as an independent board chairman of the company and the Metropolitan Commercial Bank. He succeeds William Reinhardt, who will remain a board member, the company said. ...
Arlo Technologies Insider Sold Shares Worth $3,677,229, According to a Recent SEC Filing
Arlo Technologies Insider Sold Shares Worth $3,677,229, According to a Recent SEC Filing
Sep 30, 2025
05:47 PM EDT, 09/30/2025 (MT Newswires) -- Kurtis Joseph Binder, CFO, on September 29, 2025, sold 216,934 shares in Arlo Technologies ( ARLO ) for $3,677,229. Following the Form 4 filing with the SEC, Binder has control over a total of 467,681 common shares of the company, with 467,681 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1736946/000165473725000008/xslF345X05/form4-09302025_090957.xml ...
Four Corners Property Trust Buys Illinois Property for $1.6 Million
Four Corners Property Trust Buys Illinois Property for $1.6 Million
Sep 30, 2025
05:47 PM EDT, 09/30/2025 (MT Newswires) -- Four Corners Property Trust ( FCPT ) said late Tuesday it has acquired a Tires Plus property in Illinois for $1.6 million. The property is corporate-run under a triple net lease with around four years of term remaining, the company said. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved