NYSE$RDDT
Reddit Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reddit announced strong Q2 results with revenue and users growing over 50% year-over-year.
Reddit reported a strong second quarter in 2024, with significant year-over-year growth in revenue and daily active users. Revenue increased by 54% to $281.2 million, and daily active users increased by 51% to 91.2 million. The company also reduced its net loss to $10.1 million and achieved positive Adjusted EBITDA of $39.5 million.
- Daily Active Uniques (DAUq) increased 51% year-over-year to 91.2 million.
- Revenue increased 54% year-over-year to $281.2 million.
- Net loss reduced to $10.1 million.
- Adjusted EBITDA was $39.5 million, up $74.9 million from the prior year.
Headline financials
Revenue & EPS history
Reddit Inc · Revenue · Quarterly
$281M
Revenue by segment
Reddit Inc · $247M total across 1 segment · Q4 2023
- Advertising$247M—100.0%
Forward guidance
Reddit anticipates continued growth in the third quarter of 2024, projecting revenue between $290 million and $310 million and Adjusted EBITDA between $40 million and $60 million.
Tailwinds
- Revenue in the range of $290 million to $310 million
- Adjusted EBITDA in the range of $40 million to $60 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 12 quarterly earnings reports · overlaid with Q2 2024
+9.0%
Avg return
Earnings day
+9.0%
Avg return
5 days after
+18.8%
Avg return
30 days after
67%
8 / 12 earnings
Positive
+46.0%
Q3 2023
Best reaction
-10.8%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +12.5% | +13.1% | +19.4% | |
| Q4 2025 | -7.4% | -7.8% | -7.7% | |
| Q3 2025 | +5.3% | +1.0% | +11.3% | |
| Q2 2025 | +17.2% | +32.5% | +40.2% | |
| Q1 2025 | -4.2% | -11.2% | -5.4% | |
| Q4 2024 | -5.3% | -13.6% | -40.8% | |
| Q3 2023 | +46.0% | +33.4% | +72.1% | |
| Q3 2024 | +45.6% | +41.8% | +75.8% | |
| Q2 2023 | +1.1% | -3.4% | +4.6% | |
| Q2 2024 | -10.8% | -6.9% | +3.3% | |
| Q1 2023 | +1.4% | +17.8% | +21.1% | |
| Q1 2024 | +6.5% | +10.9% | +31.5% | |
| Q4 2023 | — | — | — | |
| Q4 2022 | — | — | — | |
| Q3 2022 | — | — | — | |
| Q2 2022 | — | — | — | |
| Q1 2022 | — | — | — | |
| Q4 2021 | — | — | — | |
| Q3 2021 | — | — | — | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — | |
| Q4 2020 | — | — | — |
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