Reddit's holiday-quarter forecast shows AI ad strategy paying off
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Reddit forecasts Q4 revenue between $655M and $665M, exceeding Wall Street's $637.9M estimate, driven by its AI-powered advertising tools. The platform's unique ad strategy allows targeted ads in relevant discussions, enhancing marketing effectiveness. Q3 revenue surged 68% to $585M, with daily active users up 19% to 116M. Reddit's machine translation now supports 30 languages, contributing to user growth. Adjusted EBITDA is projected between $275M and $285M, surpassing estimates of $258.8M.
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