
Reddit's revenue jumps 53% as Tencent holds a stake
The move
Reddit reported third-quarter revenue of $895 million, up 53% year over year, with net income of $283 million and adjusted EBITDA of $402 million, a 45% margin, the company said in its Oct. 29 earnings release. Daily active uniques rose 12% to 130.3 million. Tencent subsidiaries have disclosed owning about 9.98% of Reddit's Class A shares, a stake for which Reddit CEO Steve Huffman holds the voting proxy, per a February 2025 SEC filing.
Why it matters
The results show continued ad-revenue growth even as Reddit faces outside questions about AI-driven traffic to its site.
The bear case
U.S. daily active uniques fell 2% year over year even as international usage grew, pointing to uneven growth beneath the headline number.
What to watch
Whether U.S. usage stabilizes in the fourth quarter.
