"Just after Reddit's mid-March 2024 IPO, I expressed some serious doubts over the company's ability to grow its core advertising business and make anything of its AI pursuits. However, Reddit's third-quarter earnings showed some surprisingly good metrics. Revenue grew by an impressive 68% year over year to $348.4 million."
"The young company's free cash flow and net income were both positive figures. During the third quarter of 2023, Reddit was hemorrhaging cash. So, how did Reddit manage to spearhead this level of revenue acceleration?"
"How Reddit proved me wrong: In particular, Reddit was making a case for having ties to artificial intelligence (AI), but it wasn't convincing stock buyers… Following the company's third-quarter earnings report, I'm changing my tune."
Collection
[
|
...
]