The company saw a 68% revenue increase and a 47% rise in daily active visitors in Q3.
Reddit's third-quarter revenue soared 68% to $348.4 million from a year ago, comfortably beating analysts' expectations of $312.8 million.
This positive net increase was consistent with its second-quarter results, during which the platform saw a 51% increase in daily active users globally.
Elon Musk's X reported 1.6% growth in daily active users in 2024's second quarter, per the FT.
The daily active users on all of Meta's platforms combined, which include Facebook, Instagram, and Threads, increased by 7%, according to its second-quarter earnings report.
Persons:
—, Steve Huffman, Huffman, Reddit, AMAs, Elon Musk's, Jefferies, RDDT
Organizations:
Service, Analysts, Global, Elon, Facebook, New York Stock Exchange
Locations:
Spanish