Reddit (RDDT) reports third-quarter results after Thursday's close, and its shares are down nearly half from a peak reached 13 months ago. Revenue rose 61% in the latest quarter, its eighth straight quarter of growth above 60%, and the stock trades at almost 20 times next year's earnings and under 15 times the 2028 profit target. Reddit has consistently topped Wall Street revenue and profit targets across 10 earnings seasons as a public company, yet its shares have fallen the day after roughly half of those reports. Investors are watching the logged-in U.S. daily active uniques group, which grew just 1% to 23.1 million at the end of June, and licensing deals with AI giants that come up for renewal. Still, analysts have raised per-share profit targets for this year from $4.98 to $5.39 over three months while the stock fell 15%, and guidance called for $860 million to $870 million in revenue, or 47% to 49% growth.
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