Reddit reported second quarter revenue of $804.9 million, up 61% year-over-year, and diluted EPS of $1.25, beating consensus estimates of $730.96 million and $0.99, respectively. This marks the company's eighth consecutive quarter with over 60% revenue growth.
Key Highlights
- Revenue grew 61% year-over-year to $804.9 million, driven by a 64% increase in advertising revenue to $762 million.
- Daily Active Uniques (DAUq) increased 18% year-over-year to 130.3 million, led by 28% growth in international users, while U.S. user growth was 6%.
- The company posted net income of $253 million, representing a 31% margin, and guided for third quarter revenue between $860 million and $870 million.
- Reddit repurchased 1.5 million shares of its Class A common stock for a total of $235 million during the quarter.