Reddit (RDDT) Q3 2024 earnings results beat EPS and revenue expectations

The company claims its revenue was up 68 percent year-over-year.

The Reddit company is one of the latest companies in tech to report on its latest fiscal quarter, and Q3 2024 looks like it was good news across the board. The company posted a win on revenue, and when it comes to its earnings-per-share (EPS), where Reddit was expected to post a loss, it instead posted positive numbers.

Reddit posted its Q3 2024 earnings results on its investor relation website this week. For the company’s revenue, it posted a total of $348.4 million for the quarter. That was quite a bit more than the $313 million that was expected by Wall Street analysts. Moreover, the expectation for the company’s EPS were set for a loss at $0.07 per share. Instead, Reddit managed to post a positive EPS of $0.16 per share.

Reddit had a lot of good news to bring with its Q3 2024 earnings results, and a big chunk of that can likely be attributed to a massive growth in Daily Active Users (DAUs) which were also massively up year-over-year by around 47 percent, coming to a final number of 97.2 million. The company also claims to have achieved GAAP profitability with around $29.9 million.

With a successful quarter behind it, it will be interesting to see if Reddit can keep pace and continue to grow in the quarters ahead. Stay tuned to the Reddit topic for further news and coverage.