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17h ago

Reddit Surpasses Q2 Forecasts With AI-Driven Ad Gains and Search Ambitions

Reddit posted a 78% revenue surge with record EPS, highlighting AI-driven ad tools as it maps out a unified search engine strategy.

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Overview

  • Reddit reported $500 million in Q2 revenue, up 78% year over year and above the $426 million analysts expected.
  • Adjusted earnings per share reached $0.45, topping estimates of $0.19, and net income hit $89 million versus a year-earlier loss.
  • Global daily active users climbed 21% to 110.4 million, exceeding forecasts of roughly 109 million.
  • The company introduced two AI-powered ad features and earned $35 million from data licensing deals with Google and OpenAI, driving ad revenue to $465 million (93% of total).
  • CEO Steve Huffman plans to integrate the 6 million-user Reddit Answers tool into core search as the company guides Q3 revenue to $535 million–$545 million.