Reddit Stock News

Reddit (RDDT) shares surged Friday after the social media platform posted better-than-expected earnings and an upbeat outlook.

Reddit's user base is expanding at a rapid clip. Surging ad sales are driving the company's profit growth.

The social-media platform is reaping the benefits of its globalization effort, and there's room for more international growth ahead.

Reddit shares jumped more than 12% on Friday after the social media company posted third-quarter results that exceeded Wall Street estimates and delivered an upbeat outlook for the current quarter. The company's revenue surged 68% from a year earlier to $585 million, topping the LSEG consensus estimate of $546 million.

Major U.S. equities indexes climbed Friday afternoon, helped by a rally in shares of Amazon (AMZN) after the tech giant posted better-than-expected earnings. The Dow, S&P 500, and Nasdaq all advanced.

Reddit (RDDT) shares surged Friday after the social media platform posted better-than-expected earnings and an upbeat outlook.

Reddit stock jumped after the social media company topped earnings and issued an upbeat forecast. The company also signaled strong advertising and user growth.

Oppenheimer & Co analysts late Thursday weighed in on Reddit (NYSE:RDDT)'s third quarter earnings and revenue results, which exceeded Wall Street expectations.  Reddit's Q3 sales rose 68% year over year, while its earnings per share of $0.80 surpassed the analyst consensus estimate of $0.51.