OpenAI<\/a>. It sued Perplexity AI and other three data scraping companies last week, alleging them of illegally collecting Reddit’s data.<\/p>\n“To continue its upward trajectory, the company must continue to protect its intellectual property – consumer conversations – from data scrapers,” said Jeremy Goldman, senior director of briefings at Emarketer.<\/p>\n
Shares of the company rose around 3% in volatile after-hours trading.<\/p>\n
Reddit operates in a crowded social media market, where dominant platforms such as TikTok and Meta are aggressively vying for new advertisers with their massive user-bases and AI-powered ad tools. Facebook-parent Meta reported upbeat third-quarter revenue on Wednesday.<\/p>\n
Reddit expects fourth-quarter revenue to be between $655 million and $665 million, compared with analysts’ average estimate of $637.9 million, according to data compiled by LSEG.<\/p>\n
The company forecast fourth-quarter adjusted earnings before interest, taxes, depreciation, and amortization to be between $275 million and $285 million, compared with estimates of $258.8 million.<\/p>\n
Daily active unique visitors rose 19% to 116 million in the third quarter ended September 30, while its average revenue per user increased by 41%. The company said its machine translation feature now supported 30 languages, helping fuel user growth across markets outside the United States.<\/p>\n
Third-quarter revenue rose 68% to $585 million, beating estimates of $545.7 million.<\/p>\n
(Reporting by Jaspreet Singh in Bengaluru; Editing by Maju Samuel)<\/p>\n","protected":false},"excerpt":{"rendered":"By Jaspreet Singh (Reuters) -Reddit forecast fourth-quarter revenue above Wall Street estimates on Thursday, thanks to its artificial…\n","protected":false},"author":2,"featured_media":109489,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[78618,365,363,364,78617,78619,111,139,69,47517,11224,78615,145,78616],"class_list":{"0":"post-109488","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-advertising-tools","9":"tag-ai","10":"tag-artificial-intelligence","11":"tag-artificialintelligence","12":"tag-fourth-quarter-revenue","13":"tag-jeremy-goldman","14":"tag-new-zealand","15":"tag-newzealand","16":"tag-nz","17":"tag-perplexity-ai","18":"tag-reddit","19":"tag-social-media-platform","20":"tag-technology","21":"tag-wall-street-estimates"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/109488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=109488"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/109488\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/109489"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=109488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=109488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=109488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}