Reported 28 days ago
Reddit's shares surged 22% following the announcement of its first quarterly profit and a revenue forecast for Q4 exceeding expectations, driven by successful AI content licensing deals and robust digital advertising. The platform reported a 68% increase in revenue to $348.4 million for the third quarter, alongside a rise in daily unique visitors. With enhanced AI collaborations and ongoing product improvements, Reddit is optimistic about continued growth and attracting more advertisers.
Source: YAHOO