Startup DreamersStartup Dreamers
  • Home
  • Startup
  • Money & Finance
  • Starting a Business
    • Branding
    • Business Ideas
    • Business Models
    • Business Plans
    • Fundraising
  • Growing a Business
  • More
    • Innovation
    • Leadership
Trending

What Time Is ‘South Park’ Season 27 Episode 5? How To Watch

September 17, 2025

Over Half of Workers Tell Employers This Expensive Lie

September 17, 2025

What Smart Marketers Are Doing Now to Maximize Q4 Revenue — And How You Can Too

September 17, 2025
Facebook Twitter Instagram
  • Newsletter
  • Submit Articles
  • Privacy
  • Advertise
  • Contact
Facebook Twitter Instagram
Startup DreamersStartup Dreamers
  • Home
  • Startup
  • Money & Finance
  • Starting a Business
    • Branding
    • Business Ideas
    • Business Models
    • Business Plans
    • Fundraising
  • Growing a Business
  • More
    • Innovation
    • Leadership
Subscribe for Alerts
Startup DreamersStartup Dreamers
Home » Reddit Is Profitable For the First Time in 19 Years: Report
Money & Finance

Reddit Is Profitable For the First Time in 19 Years: Report

adminBy adminOctober 31, 20240 ViewsNo Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email

Reddit’s third-quarter earnings, released on Tuesday, surprised investors with record growth and profitability.

Reddit reported a profit for the first time in its 19-year history, with a net income of $29.9 million, or 16 cents a share, for the quarter compared to a net loss of $7.4 million at the same time last year. Analysts forecasted a loss of seven cents a share for the quarter.

Revenue was up, increasing 68% year-over-year to reach $348.4 million, better than the $312.8 million analysts expected. Ad revenue drove the bulk of the increase, contributing to $315.1 million of the overall total.

The earnings also showed that Reddit’s user base is growing, with 97.2 million people visiting the site daily in the third quarter, a record high and a nearly 50% increase from the same time last year. Reddit shares were up over 22% on Tuesday after the earnings announcement.

Related: Here’s Why Reddit Turned Down an Acquisition Offer From Google in Its Early Days, According to Cofounder Alexis Ohanian

“I’m excited to share that Q3 was a landmark quarter for Reddit,” Reddit CEO Steve Huffman wrote in his quarterly letter to shareholders. He added later that “In 2024 so far, ‘Reddit’ was the sixth most Googled word in the U.S., underscoring that when people are looking for answers, advice, or community, they’re turning to Reddit.”

Reddit CEO Steve Huffman. Credit: Greg Doherty/Variety via Getty Images

Huffman stated that Reddit started using AI to translate content on its website into other languages, starting with French in the first half of the year. The site has now expanded the effort to Spanish, Portuguese, Italian, and German, per the letter.

Going forward, it will try to make the search experience better for people searching internally or those navigating to Reddit from an external search engine like Google, according to the company.

Related: Reddit Traffic Nearly Triples in 8 Months, Posts Rise to the Top of Google Search

Reddit was up over 120% year-to-date at the time of writing.

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

Over Half of Workers Tell Employers This Expensive Lie

Money & Finance September 17, 2025

What Every Small-Business Founder Needs to Know About Stablecoins and Digital Dollars

Money & Finance September 15, 2025

Want to Retire One Day? Avoid 3 Common Retirement Mistakes

Money & Finance September 14, 2025

Why the Future of Finance Won’t Be Built on Innovation Alone

Money & Finance September 12, 2025

Taylor Swift and Amazon’s ‘Antifragile’ Secret to Business Success

Money & Finance September 11, 2025

Home From College: Jobs for Young Adults Without Work Experience

Money & Finance September 9, 2025
Add A Comment

Leave A Reply Cancel Reply

Editors Picks

What Time Is ‘South Park’ Season 27 Episode 5? How To Watch

September 17, 2025

Over Half of Workers Tell Employers This Expensive Lie

September 17, 2025

What Smart Marketers Are Doing Now to Maximize Q4 Revenue — And How You Can Too

September 17, 2025

Free Webinar | On-Demand: From Bottlenecks to Breakthroughs: 5 Barriers Stalling Entrepreneurs—and the System That Removes Them

September 17, 2025

I Wasn’t Sure I Wanted Anthropic to Pay Me for My Books—I Do Now

September 17, 2025

Latest Posts

How Morning Brew’s CEO Succeeds in a Noisy Media Landscape

September 16, 2025

How a Mom’s Garage Side Hustle Hit $1 Billion Revenue

September 16, 2025

OpenAI Ramps Up Robotics Work in Race Toward AGI

September 16, 2025

How Many Emmy Awards Did ‘Severance’ Win at the 2025 Emmys?

September 15, 2025

What Every Small-Business Founder Needs to Know About Stablecoins and Digital Dollars

September 15, 2025
Advertisement
Demo

Startup Dreamers is your one-stop website for the latest news and updates about how to start a business, follow us now to get the news that matters to you.

Facebook Twitter Instagram Pinterest YouTube
Sections
  • Growing a Business
  • Innovation
  • Leadership
  • Money & Finance
  • Starting a Business
Trending Topics
  • Branding
  • Business Ideas
  • Business Models
  • Business Plans
  • Fundraising

Subscribe to Updates

Get the latest business and startup news and updates directly to your inbox.

© 2025 Startup Dreamers. All Rights Reserved.
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact

Type above and press Enter to search. Press Esc to cancel.

GET $5000 NO CREDIT