Reddit surprises investors: First profit ensures price increase!

Reddit surprises investors: First profit ensures price increase!

Reddit, USA - The Börsen year 2024 was a brilliant success for Reddit. After the company went to the NYSE in March, the course initially rose from $ 34 at its IPO to a stunning $ 163.63, which makes an impressive increase of over 250 percent, such as finanzen.net . Many analysts that were skeptical at the beginning have now adapted their price targets upwards and see potential up to $ 206. However, the surprise came when the company first reported in the third quarter of 2024 to have made profits-$ 0.16 per share, which corresponds to a remarkable turn compared to the previous year's loss of -0.13 US dollars.

sales increases and impressive user growth

Reddit also recorded an impressive increase in sales of $ 207.5 million in the previous year to $ 348.35 million, thus also surpassing the expectations of the analysts, which had only expected $ 312.1 million, so Investment Week . This increase in the income is due to a diversification of business strategies, including new advertising models and subscription -based services. The number of weekly active users also rose by remarkable 53 percent to 365 million, which underlines the loyalty and commitment of the community.

The positive news inspired the share prices, with an increase of almost 20 percent in post-market trade, which led to a record high of $ 97.99. Nevertheless, the question remains whether Reddit can make sustainable profits or whether this success is only a unique event. Analysts warn that the high dependence on advertising revenues during economic uncertainties could be risky. The upcoming quarters will have to decide on the actual stability of reddit's growth.