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Dubai News Club > Tech > Reddit is profitable for the first time ever, with nearly 100 million daily users
Tech

Reddit is profitable for the first time ever, with nearly 100 million daily users

Press Room
Last updated: 2024/10/29
Press Room
Published: October 29, 2024
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Reddit just turned a profit for the first time. As part of its third-quarter earnings results released on Tuesday, the company reported a profit of $29.9 million, along with $348.4 million in revenue — a 68 percent increase year over year.

The company hasn’t been profitable at any point in its nearly 20-year history. Since going public, Reddit lost $575 million during its first quarter on the market, but it decreased that loss to $10 million last quarter, and is now finally in the green.

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