Reddit stock price soars after social media player reports profit milestone

Reddit’s stock surged after posting a rare Q3 profit of nearly $30 million and surpassing revenue expectations with $348.4 million.

Daily users rose 47% to over 97 million, driven partly by a new AI-powered translation tool that quadrupled usage.

CEO Steve Huffman noted Reddit’s growing role as a community resource, including during recent hurricanes.

Reddit’s stock, debuting at $34 in March, reached $113.50, reflecting strong investor confidence, CBS News has reported.

read more: https://www.cbsnews.com/news/reddit-stock-price-reddit-earnings/

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