Reddit, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2024
August 06, 2024 at 04:03 pm EDT
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Reddit, Inc. reported earnings results for the second quarter and six months ended June 30, 2024. For the second quarter, the company reported sales was USD 281.18 million compared to USD 183.03 million a year ago. Net loss was USD 10.1 million compared to USD 41.11 million a year ago. Basic loss per share from continuing operations was USD 0.06 compared to USD 0.7 a year ago. Diluted loss per share from continuing operations was USD 0.06 compared to USD 0.7 a year ago.
For the six months, sales was USD 524.15 million compared to USD 346.77 million a year ago. Net loss was USD 585.17 million compared to USD 101.98 million a year ago. Basic loss per share from continuing operations was USD 4.99 compared to USD 1.75 a year ago. Diluted loss per share from continuing operations was USD 4.99 compared to USD 1.75 a year ago.
Reddit, Inc. operates a social platform, Reddit. The Company operates mobile applications and a Website that allows users to form communities and create and share content. Reddit is focused on bringing community, belonging, and empowerment to everyone in the world. Reddit is a global, digital city where anyone can join a community to learn from one another, engage in authentic conversations, explore passions, research new hobbies, exchange goods and services, create new communities and experiences, share a few laughs, and find belonging. Reddit has thousands of communities, endless conversation, and authentic human connections. It offers real-time access to evolving and dynamic topics, such as sports, movies, news, fashion, and the latest trends. It offers Memorable AI, that uses generative artificial intelligence to help marketers create better advertisements. Memorable AI technology help advertisers to find the effective text, images and videos to use in their sponsored messages.
REDDIT, INC. 
