Reddit, Inc. ( RDDT ) reported its third-quarter results after Tuesday's closing bell. Here's a look at the details from the report.  

The Details: Reddit ( RDDT ) reported quarterly earnings of 16 cents per share, which beat the analyst consensus estimate for losses of 8 cents. Quarterly revenue came in at $348.4 million, which beat the consensus estimate of $311.42 million.

Daily Active Uniques (DAUq) increased 47% year-over-year to 97.2 million.

Gross margin was 90.1%, an improvement of 280 basis points from the prior year.

Net income was $29.9 million, as compared to net loss of $7.4 million in the prior year.

Adjusted EBITDA was $94.1 million, as compared to a loss of $6.9 million in the prior year.

Operating cash flow was $71.6 million, an improvement of $79.3 million from the prior year.

Free Cash Flow was $70.3 million and capital expenditures were $1.4 million, less than 1% of revenue.

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“It was another strong quarter for Reddit ( RDDT ) and our communities as we achieved important milestones, including new levels of user traffic, revenue growth, and profitability,” said Steve Huffman, CEO of Reddit ( RDDT ). “Reddit continues to be one of the most visited and trusted sites in the world with opportunities available to us that aren’t available to most companies.”

Outlook: Reddit ( RDDT ) sees fourth-quarter revenue in a range of $385 million to $400 million, versus the $356.716 million estimate. The company expects adjusted EBITDA of between $110 million and $125 million for the fourth quarter.

RDDT Price Action: According to Benzinga Pro, Reddit ( RDDT ) shares are up 17.45% after-hours at $96 at the time of publication Tuesday.

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