Reddit’s explosive user growth and AI tools help it soar to its first-ever profit
SMRTR summary
Reddit reported its first profit as a public company, earning $29.9 million in Q3. Sales reached $348.4 million, surpassing expectations. Daily users grew 47% to 97.2 million. The platform's AI translation feature is driving international expansion, with plans for over 30 countries by 2025. Reddit's stock has tripled since its March IPO. Data licensing deals with Google and OpenAI are bolstering the company's finances.
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