Reddit Inc RDDT reported better-than-expected fourth-quarter financial results after the market close on Wednesday.
Shares of Reddit (RDDT) fell sharply following its latest quarterly earnings report. CEO Steve Huffman confirmed that a Google search algorithm change impacted the company's web traffic.
Reddit shares tumbled 13% in premarket trading on Thursday after the social media firm missed expectations for daily active unique visitors, hit by a change in Google's search algorithm.
Reddit's (NYSE:RDDT) stock tumbled 13% in after-hours trading, wiping nearly $6 billion from its valuation following a mixed fourth-quarter earnings report that fell short of investor expectations. Revenue surged 70% year-over-year to $427.7 million, beating analyst forecasts of $405.5 million.
Reddit, Inc. (NYSE:RDDT ) Q4 2024 Earnings Conference Call February 12, 2025 5:00 PM ET Company Participants Jesse Rose - Head of Investor Relations Steven Huffman - Co-Founder & Chief Executive Officer Jennifer Wong - Chief Operating Officer Andrew Vollero - Chief Financial Officer Conference Call Participants Ronald Josey - Citigroup Justin Post - Bank of America Benjamin Black - Deutsche Bank Brian Nowak - Morgan Stanley Richard Greenfield - LightShed Ken Gawrelski - Wells Fargo Eric Sheridan - Goldman Sachs Laura Martin - Needham & Company Operator Good afternoon. My name is Krista [ph] and I will be your conference operator today.
Reddit CEO Steve Huffman said the site saw "volatility" in traffic in Q4 due to Google's algorithm change. The impact shows how some users still rely on an external search engine to get answers from Reddit.
Andrew Boone, Citizens JPM analyst, joins 'Closing Bell Overtime' to talk Reddit earnings.
Reddit (RDDT) reported fourth-quarter earnings that topped analysts' estimates, but its user growth fell short, sending shares lower in extended trading Wednesday.
Shares of Reddit (RDDT) plummeted after 4Q earnings beat expectations. George Tsilis dissects the social media company's report, it's 2nd quarterly profit since going public.
The San Francisco-based company's shares rose fell in extended trading Wednesday, despite Reddit's better-than-expected fourth-quarter earnings and revenue.
Reddit forecast first-quarter revenue above Wall Street estimates on Wednesday, betting on its artificial intelligence content licensing deals and a robust digital advertising spend.
Reddit reported fourth-quarter earnings Wednesday that beat on the top and bottom. Global daily active uniques, or DAUq, rose 39% from a year earlier to an average of 101.7 million for the fourth quarter.