Tech Bytes: Reddit is profitable for the first time ever

Oct 30, 2024 · The online social media platform Reddit is profitable for the first time ever. With nearly 100 million daily users, up nearly 50% from last year, Reddit reported $30 million in …

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Tech Bytes: Reddit Is Profitable For The First Time Ever

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Oct 30, 2024 · The online social media platform Reddit is profitable for the first time ever. With nearly 100 million daily users, up nearly 50% from last year, Reddit reported $30 million in …

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Tech Bytes: Reddit Is Profitable For The First Time Ever

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Oct 30, 2024 · The online social media platform Reddit is profitable for the first time ever. With nearly 100 million daily users, up nearly 50% from last year, Reddit reported $30 million in …

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Reddit Is Profitable For The First Time Ever, With Nearly 100 Million ...

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Oct 29, 2024 · Reddit just turned a profit for the first time. As part of its third quarter earnings results released on Tuesday, the company reported a profit of $29.9 million, along with $348.4 …

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Reddit Is Profitable For The First Time In Nearly Two Decades

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Oct 30, 2024 · Reddit reported a profit for the first time in its 19-year history, with a net income of $29.9 million, or 16 cents a share, for the quarter compared to a net loss of $7.4 million at the …

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Reddit Is Profitable For The First Time Ever - Slashdot

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Oct 30, 2024 · In Reddit's third-quarter earnings results, the company reported a profit of $29.9 million, with $348.4 million in revenue -- a 68% increase year over year.The Verge reports: …

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Reddit Profitable For The First Time, Shares Jump 25% After

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Oct 30, 2024 · Reddit has also taken strategic steps to diversify its revenue streams since going public, including signing ad deals with professional sports leagues and revamping its popular …

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Tech Bytes: Reddit Is Profitable For The First Time Ever

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The online social media platform Reddit is profitable for the first time ever. With nearly 100 million daily users, up nearly 50% from last year, Reddit reported $30 million in revenue. Google says …

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4 Big Tech Giants Have Plowed Over $1 Trillion Into Stock ... - Reddit

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In tech land, options are usually only there for early-stage startups. Most stock comp is usually in the form of RSUs, which don't have a strike price associated with them (i.e. you don't have to …

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FAQs about Tech Bytes: Reddit is profitable for the first time ever Coupon?

Is Reddit a profitable company?

Reddit just turned a profit for the first time. As part of its third quarter earnings results released on Tuesday, the company reported a profit of $29.9 million, along with $348.4 million in revenue — a 68 percent increase year over year. The company hasn’t been profitable at any point in its nearly 20-year history. ...

Did Reddit's third-quarter earnings surprise investors?

Reddit's third-quarter earnings, released on Tuesday, surprised investors with record growth and profitability. Reddit reported a profit for the first time in its 19-year history, with a net income of $29.9 million, or 16 cents a share, for the quarter compared to a net loss of $7.4 million at the same time last year. ...

How did Reddit perform compared to LSEG estimates?

Here’s how the company did compared with LSEG estimates: Reddit said fourth-quarter revenue will be between $385 million and $400 million, beating the average analyst estimate of $357.9 million. Adjusted earnings for the fourth quarter will be in the range of $110 million to $125 million, higher than the $85.2 million average estimate. ...

How many users does Reddit have?

Reddit also reported a surge in daily users, hitting 97.2 million active users during the past few months, representing a 47 per cent jump year-over-year. On some days, the platform even crossed the 100 million user mark, suggesting that the platform’s reach is expanding rapidly. ...

How much did Reddit lose in the first quarter?

Since going public, Reddit lost $575 million during its first quarter on the market, but it decreased that loss to $10 million last quarter and is now finally in the black. Reddit also grew to 97.2 million daily users over the past few months, marking a 47 percent increase from the same time last year. ...

How does Reddit make money?

The majority of Reddit’s revenue came from advertising, which grew to $315.1 million. An additional $33.2 million was generated through other income streams, thanks largely to data licensing deals. Both Google and OpenAI have signed agreements with Reddit to use its content to train their AI models, contributing to this new revenue channel. ...