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Reddit (RDDT) Q2 2024 earnings results beat revenue & EPS expectations

Reddit's second quarter showed a smaller-than-expected loss on earnings-per-share.

Donovan Erskine

August 6, 2024 1:35 PM

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Reddit (RDDT) went public earlier this year, and today the company reported results for Q2 of the 2024 financial year. It was a beat on revenue and a smaller-than-expected loss on EPS, but Reddit stock still struggled in after-hours trading.

Reddit published its Q2 2024 earnings report after the close of markets today. The company made $281 million in revenue, beating the $254 million expectation. Reddit’s EPS losses were $0.06/share, lower than the expected $0.33/share.

“We had a strong quarter across the board and more people are visiting Reddit than ever before,” said Steve Huffman, Co-Founder and CEO of Reddit. “Our work to improve the platform is driving results and we are well positioned to continue to grow and deliver on our long term mission.”

However, Reddit stock took a dive in after-hours trading, dropping as low as $53 after ending the day at $54.35. Reddit’s earnings report also revealed that the platform had 91.2 million Daily Active Unique visitors in Q2.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_