Reddit revenue jumps 53% in third quarter as international users grow 24%

Reddit reported third-quarter revenue of $895 million, a 53% increase year-over-year, with net income rising 74% to $283 million. Daily active users grew 12% to 130.3 million globally. Advertising revenue, the primary income source, jumped 54% to $847 million, while international revenue surged 67%. US daily active users declined 2%, but international users rose 24%. The company generated $364 million in operating cash flow. Reddit repurchased $100 million in shares and holds $3.03 billion in cash. It forecasts fourth-quarter revenue between $1.0 billion and $1.03 billion. The company was added to the S&P 500 during the quarter.