Reddit Stock Jumps 40% on Surprise Profit, Buoyant Outlook

Key Takeaways Reddit shares are surging Wednesday after the social media firm posted its first quarterly profit as a public company. Reddit posted third-quarter revenue of $348.4 million, up 68% from the same period last year and beating Visible Alpha estimates. It reported a third-quarter net profit of$ 29.9 million, or 16 cents per share, versus estimates of a net loss of $17.7 million, or 10 cents per share. For the fourth quarter, Reddit is forecasting revenue in the range of$ 385 million to $400 millio ...