Reddit grew third-quarter revenue 53% to $895 million, even though its U.S. daily active uniques fell 2% from a year earlier to 50.7 million. Shares dropped about 10% in early after-hours trading. All of the user growth came from outside the U.S., so U.S. revenue rose 50% mainly by earning more per user, with U.S. average revenue per unique at $13.82, up 53%. Logged-out U.S. users fell 4%, while logged-in U.S. users, which the company calls its most engaged, grew only 1%. Net income reached $283 million, up 74%, and fourth-quarter revenue guidance of $1.00 billion to $1.03 billion sits above this quarter's $895 million.
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