Reddit (RDDT) PT Raised to $110 at JPMorgan

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Go back to Reddit (RDDT) PT Raised to $110 at JPMorgan

Reddit Announces Third Quarter 2024 Results

October 29, 2024 4:08 PM EDT

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

Strong revenue growth of 68% to $348.4 million

Achieved GAAP profitability with net income of $29.9 million and net margin of 8.6%

Adjusted EBITDA1 of $94.1 million and Adjusted EBITDA1 margin of 27.0%

Positive operating cash flow of $71.6 million and Free Cash Flow1 of $70.3 million, invested $66 million to net settle 1.2 million employee shares

SAN FRANCISCO--(BUSINESS WIRE)-- Reddit, Inc. (NYSE: RDDT) today announced financial results for the quarter ended September 30,... More