The shares of Reddit Inc. surged over 17% in the after-hours trade on Tuesday after the firm posted stellar financial results for the third quarter of fiscal 2024.
On an annual basis, Reddit went from net loss and diluted loss per share of $7.4 million and $0.13 to net income and earnings per share of $29.9 million and $0.16. On top of that, revenue soared 68% to $384.4 million, while daily active uniques amounted to 97.2 million, jumping 47%.
The company's stock soared 17.45% at 4:16 pm ET, going for $95.70 apiece.
