Reddit Inc Class A (RDDT)
2 Social Media Stocks Surging After Earnings
Shares of social-media companies Reddit Inc (NYSE:RDDT) and Snap Inc (NYSE:SNAP) are surging today after earnings.
Reddit shares soar 35% on profitability, rosy guidance
Reddit shares popped Wednesday, one day after it reported third-quarter results that beat Wall Street's expectations. The company reported revenue of $348.4 million, up 68% from a year earlier.
‘Rocketship' Reddit's third-quarter results a real ‘Jekyll and Hyde' story, says Bernstein
Reddit Inc.'s better-than-expected third-quarter results highlight the social-media platform's strong growth potential, analysts say.
RDDT's Big Rally, LLY Plunges on Mounjaro & Zepbound Sales Miss
The morning's biggest winner is Reddit (RDDT) after the social media platform turned a profit and reported higher-than-expected guidance. Eli Lilly (LLY) reported an "uncharacteristic" miss despite Mounjaro drug sales more than doubling over a year.
Reddit Stock Jumps on Surprise Profit, Buoyant Outlook
Reddit (RDDT) shares are surging 24% in premarket trading Wednesday after the social media firm posted its first quarterly profit as a public company with higher-than-estimated results and a rosy fourth-quarter outlook.
Reddit Price Levels to Watch as Stock Surges on Strong Earnings, Outlook
Reddit (RDDT) shares surged in premarket trading on Wednesday after the company reported earnings that topped estimates and provided a better-than-expected outlook amid robust digital advertising spending and lucrative artificial intelligence (AI) content licensing deals.
Digital ad sellers jump as Google, Reddit and Snap earnings indicate sturdy demand
Shares of online ad sellers surged on Wednesday as strong earnings from Google-parent Alphabet, Reddit and Snap signaled solid spending from brands ahead of the crucial holiday season.
Reddit's bet on AI is starting to pay off
Reddit shares surged 25% after it reported a revenue beat and turned a profit for the first time. The company saw a 68% revenue increase and a 47% rise in daily active visitors in Q3.
Reddit: Future Of Contextual And Interest-Based Ads, Initiate With 'Buy'
Reddit's community-based platform excels in contextual and interest-based ads, driving strong DAUq growth and ARPU improvements, leading to a 'Buy' rating with a $130 target price. International expansion and AI-powered tools like Memorable AI bolster Reddit's advertising capabilities, enhancing revenue growth and global user engagement. RDDT's Q3 results showcased 47% DAUq growth, 68% revenue rise, and significant margin expansion, with a projected 40% revenue growth from FY25 to FY28.
Reddit declares first profit since going public, shares rocket higher
Social media website Reddit (NYSE:RDDT) posted a net income of $29.9 million in the third quarter, marking the first quarterly profit since going public in March. Reddit delivered this on an 8.6% margin, driven by a 56% increase in advertising revenue to $315.1 million.
CNBC Daily Open: Everyone gave Reddit an upvote
Our social media habits are so ingrained they're almost automatic and essential. Little surprise, then, that the companies behind them are flourishing.
Reddit, Inc. (RDDT) Q3 2024 Earnings Call Transcript
Reddit, Inc. (NYSE:RDDT ) Q3 2024 Earnings Conference Call October 29, 2024 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 Benjamin Black - Deutsche Bank Ronald Josey - Citigroup Richard Greenfield - LightShed Andrew Boone - JMP Securities Naved Khan - B. Riley Securities Eric Sheridan - Goldman Sachs Rohit Kulkarni - ROTH Capital Partners John Colantuoni - Jefferies Brian Nowak - Morgan Stanley Thomas Champion - Piper Sandler Douglas Anmuth - JP Morgan Alan Gould - Loop Capital Daniel Salmon - New Street Research Operator Good afternoon.
