Reddit just posted better-than-expected Q2 numbers across the board.
Earnings per share came in at $0.45, more than double the estimate of $0.20. Revenue hit $499.6 million versus $427 million expected. Daily active users reached 110.4 million, narrowly topping forecasts.
But it was the forward guidance that turned heads. For Q3, Reddit is projecting revenue between $535 million and $545 million, well above the consensus of $472 million. Adjusted EBITDA guidance landed in the $185 million to $195 million range.
Reddit’s ad tools and new commerce features appear to be sticking. The company also hinted at “continued momentum from global partnerships,” though no specifics were offered.
Traders were already pricing in strength, but this blows past even the optimistic scenarios. The stock jumped in after-hours.
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