{"id":119967,"date":"2024-10-30T07:14:46","date_gmt":"2024-10-30T00:14:46","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=119967"},"modified":"2024-10-30T07:14:46","modified_gmt":"2024-10-30T00:14:46","slug":"reddit-is-profitable-for-the-first-time-ever-with-nearly-100-million-daily-users","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=119967","title":{"rendered":"Reddit is profitable for the first time ever, with nearly 100 million daily users"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">Reddit just turned a profit for the first time. As part of its third-quarter <a href=\"https:\/\/investor.redditinc.com\/news-events\/news-releases\/news-details\/2024\/Reddit-Announces-Third-Quarter-2024-Results\/\">earnings results released on Tuesday<\/a>, the company reported a profit of $29.9 million, along with $348.4 million in revenue \u2014 a 68 percent increase year over year.<\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">The company <a href=\"https:\/\/www.cnn.com\/2024\/02\/23\/tech\/reddit-ipo-filing-business-plan\/index.html\">hasn\u2019t been profitable<\/a> at any point in its nearly 20-year history. Since going public, Reddit lost $575 million during its first quarter on the market, but it decreased that loss to $10 million last quarter, and is now finally in the green.<\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">Reddit also grew to 97.2 million daily users over the past few months, marking a 47 percent increase from the same time last year. That number exceeded 100 million users on some days during the quarter, Reddit says.<\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">Reddit\u2019s advertising revenue grew to $315.1 million, while \u201cother\u201d revenue reached $33.2 million on account of \u201cdata licensing agreements signed earlier this year.\u201d Both <a href=\"https:\/\/www.theverge.com\/2024\/2\/22\/24080165\/google-reddit-ai-training-data\">Google and OpenAI<\/a> have cut <a href=\"https:\/\/www.theverge.com\/2024\/5\/16\/24158529\/reddit-openai-chatgpt-api-access-advertising\">deals with Reddit<\/a> to train their AI models on its posts.<\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">In <a href=\"https:\/\/s203.q4cdn.com\/380862485\/files\/doc_financials\/2024\/q3\/Q3-24-Shareholder-Letter.pdf\">a letter to shareholders<\/a>, Reddit CEO Steve Huffman attributed the recent increase in users to the platform\u2019s AI-powered translation feature. Reddit started letting <a href=\"https:\/\/www.theverge.com\/2023\/9\/8\/23865149\/reddit-translate-posts-coins\">users translate posts into French<\/a> last year before expanding it to Spanish, Portuguese, Italian, and German. Now Huffman says Reddit plans to expand translation to over 30 countries through 2025.<\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 leading-160 -tracking-1 selection:bg-franklin-20 dark:text-white dark:selection:bg-blurple [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple [&amp;_a]:shadow-underline-black dark:[&amp;_a]:shadow-underline-white\">\u201cReddit\u2019s influence continues to grow across the broader internet,\u201d Huffman wrote. \u201cIn 2024 so far, \u2018Reddit\u2019 was the sixth most Googled word in the U.S., underscoring that when people are looking for answers, advice, or community, they\u2019re turning to Reddit.\u201d The platform is also working to make its search feature \u201ceasier and more intuitive.\u201d<\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.theverge.com\/2024\/10\/29\/24283056\/reddit-earnings-user-growth-revenue-up\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reddit just turned a profit for the first time. As part of its third-quarter earnings results released on Tuesday, the company reported a profit of $29.9 million, along with $348.4 &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=119967\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-119967","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/119967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=119967"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/119967\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=119967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=119967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=119967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}