Futu News on October 30, social media.$Reddit (RDDT.US)$Today's pre-market is rising, the company released its Q3 performance for 24 years after market close yesterday. As of the time of this report, the stock is up 22.58% to $100.2, with pre-market trading volume reaching $3.5077 million.

Third-quarter performance in 2024.

• Daily Active Independent Users (DAUq) increased by 47% year-on-year to reach 97.2 million.

• Revenue increased by 68% year-on-year to $0.3484 billion, with advertising revenue up by 56% to $0.3151 billion, and other revenue up by 547% to $33.2 million.

• The gross margin is 90.1%, compared to 87.3% in the same period last year, an increase of 280 basis points from the previous year;

• Net income is $29.9 million, while the net loss for the previous year was $7.4 million;

• Adjusted EBITDA is $94.1 million, compared to -$-6.9 million last year;

• Operating cash flow is $71.6 million, an increase of $79.3 million from the previous year;

• free cash flowAt $70.3 million, capital expenditures were $1.4 million, less than 1% of revenue.

Financial Outlook

• The estimated revenue in the fourth quarter of 2024 is expected to be between $0.385 billion and $0.4 billion.

• The adjusted EBITDA in the fourth quarter of 2024 is estimated to be between $0.11 billion and $0.125 billion.

About the company

Reddit is engaged in internet content provision business. It is built on common interests, passion, and trust, and is the most open and authentic home for conversations on the internet. Reddit users submit, vote, and comment on their most important topics every day. Reddit has over 0.1 million active communities and approximately 97 million daily active unique visitors, making it one of the largest sources of information on the internet.