Reddit Projects Strong Holiday Quarter Advertising Sales
Traders work during the Reddit Inc. initial public offering on the floor of the NYSE in New York in March 2024.
Photographer: Michael Nagle/BloombergReddit Inc. gave a better-than-expected forecast for fourth-quarter sales, a sign that the company’s advertising business will continue to grow at a steady clip a year and a half after its initial public offering. Shares rose in extended trading.
The social media platform’s fourth-quarter revenue will be $655 million to $665 million, Reddit said in a statement Thursday. The midpoint of that range exceeds the average Wall Street estimate of $636 million, according to data compiled by Bloomberg.