The earnings call reflects a strong performance by Reddit, marked by significant growth in daily active users, revenue, and achieving GAAP profitability. International expansion and advances in advertising performance are particularly notable. However, some challenges remain, such as limited visibility in data licensing growth and the development of monetization strategies for conversation placements.

Company Guidance

During Reddit's Third Quarter 2024 Earnings Call, significant guidance was provided, highlighting impressive growth metrics. The company achieved a 68% year-over-year increase in revenue, reaching $348.4 million, driven by a 56% rise in advertising revenue, which totaled $315.1 million. Reddit also reported a milestone in achieving GAAP profitability with a net income of $30 million, marking a $40 million sequential improvement. The platform's daily active users (DAU) averaged over 97 million, reflecting a 47% increase from the previous year, and even surpassed the 100 million mark at times. International DAU grew 44%, with focus markets like France, India, and the Philippines showing 53% growth. Additionally, conversation page views rose by 40% year-over-year, exceeding 90 billion. Reddit's efforts to enhance user experience and expand globally were underscored by advancements in AI-driven machine translation, which drove a fourfold increase in users and expanded language support to over 30 countries planned through 2025. Looking forward, Reddit aims to continue scaling profitably, emphasizing improvements in search experience, global expansion, and ad business growth.

Record Daily Active Users and Revenue Growth

Reddit averaged over 97 million daily active users, a 47% increase from the previous year. Revenue grew by 68% year-over-year, reaching $348.4 million.

GAAP Profitability Achieved

Reddit achieved GAAP profitability for the first time, with a net income of $30 million, up $40 million sequentially.

International Expansion Success

International daily active users grew 44% year-over-year, led by 53% growth in focus markets such as France, India, and the Philippines.

Strong Advertising Performance

Advertising revenue grew by 56% year-over-year to $315.1 million, with strong growth across various objectives and geographies.

Machine Translation Expansion

Reddit expanded its machine translation services to include Spanish, Portuguese, Italian, and German, driving 4x more users this quarter compared to last.

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Reddit Inc Class A (RDDT) Earnings, Revenues Date & History

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RDDT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 07, 2024	2024 (Q1)	-8.75 / -8.19	-0.373	-2095.71% (-7.82)	―
Aug 06, 2024	2024 (Q2)	-0.32 / -0.06	-0.252	76.19% (+0.19)	―
Oct 29, 2024	2024 (Q3)	-0.07 / 0.16	-0.045	455.56% (+0.21)	―
Feb 26, 2025	2024 (Q4)	0.23 / -	0.21	―	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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RDDT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 29, 2024	$81.74	$116.05	+41.97%
Aug 06, 2024	$54.36	$50.69	-6.75%
May 07, 2024	$49.40	$51.40	+4.05%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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