Reddit Posts 61.1% Q2 Revenue Growth, Beating Estimates by 9.9%

1 articles · Updated · Yahoo Finance · Aug 24

$804.9 million in Q2 revenue marked Reddit’s fastest year-on-year growth in the consumer internet group, with sales rising 61.1% and topping analyst forecasts by 9.9%.
53.2 million daily active users—up 5.8%—helped drive the quarter, while Reddit also beat EBITDA estimates and issued next-quarter EBITDA guidance above Wall Street expectations.
That performance stood out in a mixed sector: among 44 consumer internet companies tracked, revenue beat consensus by 1.3% on average, but next-quarter revenue guidance ran 3% below expectations.
Shares still fell 13.8% after the report to $153.50, even as Reddit delivered the group’s biggest estimate beat, highest guidance raise, and fastest revenue growth.