Reddit Inc ( RDDT ) reported fourth-quarter financial results after the market close on Wednesday. Here’s a look at the key metrics from the quarter.

Q4 Earnings: Reddit ( RDDT ) reported fourth-quarter revenue of $427.71 million. It beat the consensus estimate of $405.26 million, according to Benzinga Pro. The company also reported:

Fourth-quarter earnings of 36 cents per share, beating analyst estimates of 25 cents per share.

Total revenue was up 71% on a year-over-year basis.

Daily active unique (DAUq) users increased 39% year-over-year to 101.7 million.

U.S. daily actives declined on a quarter-over-quarter basis from 48.2 million to 48 million.

Weekly actives users totaled nearly 380 million in the quarter.

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The daily actives number appears to be weighing on shares. In a letter to shareholders, Reddit ( RDDT ) said it experienced “some volatility with Google Search triggered by a periodic algorithm change.” The company noted that traffic from search has regained momentum in the first quarter.

“What happened wasn't unusual—referrals from search fluctuate from time to time, and they primarily affect logged-out users. Our teams have navigated numerous algorithm updates and did an excellent job adapting to these latest changes effectively,” the company said.

Reddit ( RDDT ) generated operating cash flow of $90 million and free cash flow of $89.2 million in the quarter. The company ended the quarter with cash and cash equivalents of $1.84 billion.

Outlook: Reddit ( RDDT ) expects first-quarter revenue to be in the range of $360 million to $370 million versus estimates of $358.08 million. The company sees first-quarter adjusted EBITDA of $80 million to $90 million.

Reddit ( RDDT ) executives will further discuss the quarter on a conference call with investors and analysts at 5 p.m. ET.

According to Reddit CEO Steve Huffman, “what’s most exciting is still ahead.”

Price Action: Reddit ( RDDT ) shares were down 15.2% after hours, trading at $183.99 at the time of publication Wednesday, according to Benzinga Pro.

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