Reddit reports the income in the second quarter who won on sales and recommendations

Reddit The shares jumped more than 10% after the company reported the profit in the second quarter on Thursday, which won sales and recommendations.

Here’s how the company compared with LSEG’s estimates:

• Profit per share: Expected 45 cents vs. 19 cents
• Income: 500 million dollars against $ 426 million expected

In the second quarter, Reddit sales increased by 78% compared to last year and were 17% higher than consensus estimates, representing the biggest blow in its short history as a state -owned company. Net income was $ 89 million in the second quarter, compared to a net loss of $ 10 million in The second quarter of last year Out -of the costs associated with its IPO.

The company said the income in the third quarter will be from $ 535 to $ 545, ahead of $ 473 million estimates.

According to forecasts, the adjusted EBITDA in the third quarter is from $ 185 to $ 195 million before the Stretaccount estimates are $ 160 million.

Reddit noted that the world’s daily active users increased by 21% compared to the last year to 110.4 million ahead of analysts estimates of 109 million.

The company stated that the second quarter of the average income per user was $ 4.53, heading analysts of $ 3.90.

Sales of the second quarter Reddit in the United States amounted to $ 409 million, ahead of $ 335 million. International revenue amounted to $ 91 million per quarter, compared to $ 89 million, which predicted Streetaccount.

“Other Profit” that includes Reddit’s Business by licensing dataHe jumped up 24% compared to last year to $ 35 million.

Global entered the second quarter of the DAUQ company rose 17% to 49.3 million a year, while its worldwide DAUQ jumped 24% to 61.1 million.

Reddit CEO Steve Hafman said in a letter to shareholders that the Reddit tool with AI who works on AI debuted There are now 6 million weekly users in December, compared to 1 million in the last quarter. Reddit answers will expand on the world -wide, and the company will “integrate it more deeply into the main search, as well as search the central function throughout Reddit,” Hafman wrote in the letter. Huffman did not indicate if the Reddit answers will be expanded.

“We recently celebrated 20th Year RedditAnd I have never been more agitated by our business and potential than I am today, “Hafman wrote.

Hafman said that in order to focus on “the most pressing needs”, Reddit violates several initiatives, including “Work on User Economics”. Initial reddit 2024 IPO Avenue minute The efforts of the users’ construction company that may include games and online markets similar to Roblox and Facebook MarketPlace.

Google published Strong quarterly income results Quarterly income results last week, which won in the top and bottom line similar to Meta the recent quarterly income that was liberated Wednesday.

Next week, Hair will report a quarterly income on Tuesday and behind it Pinterestwhich will report on Thursday.

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