Reddit Earnings Preview

After a 3x return since last earnings report what is the market expecting this week

This is not going to be the pivotal quarter to Reddit’s story. I want to start with that. We know they’re going to beat on every metric. Why? Because of election marketing. With the election ad spend going crazy for the first half of the fourth quarter it pushed the prices up of ads all over the internet. Meta beat by 50%, Pins crushed heck even SnapChat’s report was only somewhat of a dumpster fire this quarter. The street expecting a few dollars over $400mm in revenue, and $.25 in GAAP EPS ($.7 normalized) so we can assume they’re going to beat on top and bottom line fairly easily.