RDDT Stock Recent News

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Social-media platform Reddit is rolling out machine-learning translation to a slew of new countries.

Reddit Inc. (RDDT) reachead $59.63 at the closing of the latest trading day, reflecting a -0.4% change compared to its last close.

Reddit, Inc. reported 51% DAU growth and 57% WAU growth for Q2, but struggles with monetizing logged-out users, who grew 74% YoY. The company is reporting strong adjusted profits, but insiders have already started unloading shares, with the IPO lock-up expiring after Q2 results. The stock's valuation is high, trading at a 9.0x forward EV/S multiple, making it pricier than peers like Meta Platforms and Pinterest.

Reddit's strategic AI partnerships with OpenAI and Sprinklr enhance user engagement and ad revenue, positioning it well in the AI-driven social media landscape. Despite recent stock underperformance, Reddit's strong user growth and data monetization underscore its potential for future gains. Reddit's Q2 earnings report shows record highs in user engagement and revenue, driven by AI-enhanced advertising tools and strategic collaborations.

Reddit's shares have outperformed the S&P 500, rising 21.1% since its IPO, driven by robust revenue growth and increased Daily Active Uniques. Revenue surged 53.7% year-over-year to $281.2 million, with significant growth in DAUq, particularly from the U.S., boosting monetization and user engagement. Profitability metrics are improving rapidly, with operating cash flow turning positive and EBITDA showing substantial gains, despite a net loss due to stock-based compensation.

Social media platform Reddit said on Wednesday it was investigating an outage that has affected thousands of users in the U.S.

Reddit's mobile and web applications went down on Wednesday afternoon, with more than 150,000 users reporting outages on DownDetector as of 1:30 PM in San Francisco. When trying to access Reddit's homepage, users were met with a message reading, “Server error.

"Our work is working," @reddit CEO Steve Huffman tells Nicole Petallides. The company began publicly trading in March as its partnerships reach major companies like Google and Open A.I.

SAN FRANCISCO--(BUSINESS WIRE)--Reddit, Inc. (NYSE: RDDT), announced that on Wednesday, September 11, 2024, Steve Huffman, Reddit Co-Founder and CEO, will participate in a fireside chat at the Goldman Sachs Communacopia + Technology Conference in San Francisco, CA. The session will begin at 10:50 a.m. PT / 1:50 p.m. ET. During the fireside chat, Mr. Huffman will also address questions submitted in advance by Reddit users in the investor relations subreddit, r/RDDT. A live webcast and replay wil.