Reddit Shares Fall More Than 23% After User Growth Miss
Photo: TokenPost
Reddit shares were down more than 23% in premarket trading by 4:39 a.m. ET Friday after the company’s third-quarter user growth missed analyst estimates, putting its conditional fourth-quarter audience warning in focus. Reddit averaged 130.3 million global daily active uniques (DAUq) in the quarter ended Sept. 30, up 12% year over year but below the 133.36 million average estimate from six analysts. The company defines a DAUq as a user with a unique identifier who visits its site or opens its app at least once in a 24-hour period. U.S.
Source: TokenPost
