NEW YORK -- Reddit has turned a profit for the first time as a public company.The social platform claimed a profit of $29.9 million, or 16 cents per share, for the period ending in September, and reported sales of $348.4 million, an amount surpassing the $312.8 million analysts had projected. Reddit also grew its number of daily users to 97.2 million, a 47 percent increase from the same time last year, according to a company statement.
“In 2024 so far, ‘Reddit’ was the sixth most Googled word in the US, underscoring that when people are looking for answers, advice, or community, they’re turning to Reddit,” Huffman wrote. “We saw this play out in real-time when the White House came to Reddit to share critical information during recent hurricanes, reaching people in the affected areas with timely updates.