Reddit (RDDT) Q4 Reserves Reports 2024

I responded The shares fell more than 15 % on Wednesday after the company reported the weakest numbers of user than expected in its fourth profits.

Here’s how to compare the company with LSEG estimates:

• Arrow’s profits: 36 cents for 25 cents expected
• profit: 428 million dollars For $ 405 million expected

Global daily active uniqueness, or Dauq, increased by 39 % from the previous year to 101.7 million on average for the fourth quarter. This is delayed Wall Street estimates of 103.1 million.

Steve Hoffman, CEO of Reddit, said in a letter to shareholders, that the change of the Google search algorithm caused some “fluctuations” with the user’s growth in the fourth quarter, but the traffic related to the company’s research has since recovered in the first quarter.

Hoffman wrote: “What happened was not unusual-the search for search for search from time to time, and it primarily affects registered users,” Hoffman wrote. “Our teams have moved to many algorithm updates and did an excellent job in adapting to these recent changes effectively.”

Redit benefited from Google search updates And the internal improvements of the site that helped obtain a large number of new and returning users, which the social company refers to as registered users, during the past year and a half. Reddit said she is working to persuade users who have been recorded to create accounts as registered users, which are more profitable for her business.

The company said that Global Logged-in-in Dauq grew 27 % year on an annual basis to 46.1 million in this quarter, while Dauq Global Dauq increased by 51 % to 55.6 million.

Despite the loss of the user number, the company was reported about a strong quarter and provided optimistic instructions.

Reddit sales jumped by 71 % in a quarter of $ 250 million in the previous year, which is the fastest growth rate for any quarter since 2022.

The company said that sales of the first quarter will range between 360 million dollars and 370 million dollars, ahead of the average analyst of $ 358 million.

The net income has almost decreased to $ 71 million, or 36 cents per share, from $ 18.5 million, or a tie every year, a year ago. Reddit recorded a modified profit of $ 154 million in the fourth quarter, with the forecasts of analysts of $ 128 million.

Redit’s profits in the fourth quarter followed many other online advertising technology companies that recently reported their latest quarterly profits.

Last week, Amazon I mentioned Fourth quarter profits, Saying Its advertising online has recorded $ 17.29 billion, an increase of 18 % over last year. In the fourth quarter profits, Pinterest Tell her sales In this period, 18 % increased yearly to $ 1.15 billion.

Also last week, alphabet Google’s advertising sales have grown at 11 % of a year 72.46 billion dollars, while youtube advertising revenues jumped 14 % to $ 10.47 billion in The fourth quarter. popAnd at the same time, I mentioned Fourth quarter revenues 14 % growth year to $ 1.56 billion.

In late January, Dead He said Its revenues for the fourth quarter amounted to 48.39 billion dollars, an increase of 21 % over the previous year. Microsoft also I mentioned The sales of news ads increased by 21 % on an annual basis in their latest quarterly profits. Microsoft does not reveal the quarterly sales numbers of the unit.

He watches: Stephanie Link Hitors says: I will buy Amazon via Meta.