Reddit has reported a profit of $29.9 million in its third quarter, marking the first time the company has been profitable in its nearly 20-year history.
According to CEO Steve Huffman, the increase in users comes from Reddit's AI-powered translation feature, which has expanded to multiple languages.
Huffman pointed out that in 2024, 'Reddit' was the sixth most Googled word in the U.S., highlighting its growing influence.
The company's revenue growth was significant, with advertising revenue rising to $315.1 million, attributed to enhanced data licensing agreements.
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