For the first time in its nearly two-decade history, Reddit has turned a profit. Reporting a net income of $29.9 million for Q3, Reddit’s revenue reached $348.4 million—an impressive 68% year-over-year growth.
This surge comes alongside Reddit’s rising popularity, now with an average of 97.2 million daily users—a 47% jump from last year. On its busiest days, daily users even exceeded 100 million. Much of this growth is credited to Reddit’s recent AI-driven features, such as expanded translation options in over five languages, with plans to reach 30+ languages by 2025.
Reddit’s $315.1 million ad revenue was bolstered by partnerships with Google and OpenAI, who signed data licensing deals for AI model training. In addition, CEO Steve Huffman revealed ambitious goals for the platform’s search functionality, aiming to make it “easier and more intuitive.”
Since going public, Reddit has driven revenue by partnering with sports leagues, enhancing popular AMA features, and controlling content scraping on its site. Huffman also mentioned that “Reddit” was the sixth most Googled term in the U.S. this year, proving that Reddit is increasingly where people turn for answers, community, and insights.
