RDDT Stock Recent News

Shares of Reddit have lost ~30% from YTD highs and are trading back near its original Day 1 close post-IPO. The company recently reported incredible Q2 results that featured accelerating revenue growth and daily active users that trumped peers like Snap and Pinterest. The company's data licensing revenue stream also continues to multiply y/y. This could become a much more significant revenue base if Reddit follows in Twitter's footsteps.

As expected, Reddit's (NASDAQ: RDDT ) plan to flood the comments section of its platform with advertising is having the desired effect. Ad revenue surged 42% in the second quarter t0 $253.1 million.

Reddit's (RDDT) second-quarter 2024 results benefit from strong daily active user growth, higher ARPU and AI-powered services.

After the stock market started a brief sell-off this week, most market participants let their emotions get the best of their portfolios, either selling out of stocks that they should never let go of or even starting prematurely buying the dip on the entire market, which is just as detrimental as letting go of winning names.

Reddit's CEO is hinting that the social media site could explore some paid options for select subreddits now that it's publicly traded.

Reddit Inc., which reported its second quarterly results as a public company Tuesday, is well-positioned to reap the benefits of the “treasure trove” of user-generated content on the platform, says Baird Equity Research.

Reddit, Inc RDDT is benefiting from Alphabet Inc GOOGL Google search changes as well as partnerships with artificial intelligence innovator OpenAI and Sprinklr Inc CXM.

Reddit (NYSE: RDDT ) has been among the better performers in the social media space, at least up until July. While RDDT stock is still in the green on a year-to-date (YTD) basis, the stock had climbed more than 60% trough to peak in July before coming back to earth.

Reddit, Inc. (NYSE:RDDT ) Q2 2024 Results Conference Call August 6, 2024 5:00 PM ET Company Participants Jesse Rose - Head of Investor Relations Steve Huffman - Co-Founder & Chief Executive Officer Jen Wong - Chief Operating Officer Drew Vollero - Chief Financial Officer Conference Call Participants Doug Anmuth - JPMorgan Laura Martin - Needham & Company Ron Josey - Citi Brian Nowak - Morgan Stanley Eric Sheridan - Goldman Sachs Rich Greenfield - LightShed Andrew Boone - JMP Securities Tom Champion - Piper Sandler Daniel Salmon - New Street Research Benjamin Black - Deutsche Bank Alan Gould - Loop Capital Operator Good afternoon. My name is Krista, and I will be your conference operator today.

Reddit (RDDT) beat analysts' expectations on the top and bottom lines in its second quarterly earnings report since its March initial public offering (IPO).