Reddit Revenue Jumps 53% to $895 Million as International Users Offset a Slide in the US

Reddit reported third-quarter revenue of $895 million, up 53% from a year earlier, with advertising revenue of $847 million, up 54%. Net income rose 74% to $283 million, or $1.40 per diluted share, and adjusted EBITDA reached $402 million, a 44.9% margin.

Daily active uniques rose 12% to 130.3 million and weekly actives grew 16% to 515.2 million. Growth came from abroad: international daily users climbed 24% to 79.6 million, while US daily users fell 2% to 50.7 million.

For the fourth quarter, Reddit guided to revenue of $1.00 billion to $1.03 billion and adjusted EBITDA of $480 million to $510 million. The shrinking US audience is the main caveat to an otherwise strong report.