Reddit shares reportedly close down 29.27% after weak Q4 revenue forecast
Reddit reported $895 million in Q3 revenue, up 53% and above estimates, while daily active users missed forecasts.
TLDR
Reddit’s third-quarter revenue beat the $878 million estimate, while daily active users rose 12% to 130.3 million but missed expectations. Its fourth-quarter revenue forecast fell below estimates. Shares reportedly closed down 29.27% on October 30, their steepest drop since Reddit went public in 2024.
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