00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Reddit shares plunged 16.8% in after-hours trading Thursday
00:07after the company issued fourth-quarter revenue guidance
00:10below Wall Street expectations, according to data from Benzinga Pro.
00:14The platform reported third-quarter revenue of $895 million,
00:19beating estimates of $878.02 million.
00:24Earnings of $1.40 per share topped expectations of $1.36.
00:30Advertising revenue rose 54% to $847 million.
00:35Daily active users increased 12% to $130.3 million,
00:40while weekly active users climbed 16% to $515.2 million.
00:46Reddit forecasts revenue between $1 billion and $1.03 billion,
00:52below the $1.046 billion consensus estimate.
00:55The outlook represents annual growth of 37.8% to 42%,
01:01down from 53% in the third quarter.
01:04The guidance fell below Wall Street's estimate of $1.046 billion.
01:10Shares fell to $107.78,
01:14below their previous 52-week low of $119.27.
01:18For all things money, visit Benzinga.com.
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