Reddit reports third-quarter results on October 29, with shares down 37.25% year to date and down 7.61% over the past week to $144.25. Last quarter, EPS came in at $1.25 against a $0.9673 consensus, and revenue rose 61% to $805 million. Management guided Q3 revenue to $860 million–$870 million, or 47%–49% growth, while the revenue consensus sits above the top of that range. Reddit Max is seen as a key factor, with advertisers using Max up over 60% from Q1 and Max revenue up over 150%, though U.S. logged-in user growth was just 1% last quarter and search referrals have declined as AI Overviews from Alphabet threaten drive-by traffic.
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