# Reddit Hits Profitability Milestone: First-Ever Profits Announced! 🚀 **URL:** \ **Category:** News & Articles\ **Tags:** data-recovery, ai\ **Created:** [October 30, 2024, 1:52pm UTC](https://onehack.st/t/reddit-hits-profitability-milestone-first-ever-profits-announced/294740 "2024-10-30T13:52:11Z")\ **Posts on this page:** 1\ **Page:** 1
**Author:** ![TheJoker](https://onehack.st/user_avatar/onehack.st/thejoker/32/22660_2.png) [@TheJoker](https://onehack.st/u/TheJoker)\ **Post date:** [October 30, 2024, 1:52pm UTC](https://onehack.st/t/reddit-hits-profitability-milestone-first-ever-profits-announced/294740/1 "2024-10-30T13:52:11Z")
**Summary:** 1. **First Profitable Quarter** Reddit has reported its first-ever profit of **$29.9 million** for the third quarter, with total revenue reaching **$348.4 million** , a 68% increase year over year. 2. **User Growth Surge** The platform saw its daily active users grow to **97.2 million** , marking a **47%** increase compared to the same time last year, with some days exceeding **100 million users**. 3. **Historical Losses** Prior to this quarter, Reddit had never achieved profitability, having recorded a **$575 million loss** when it went public, which was reduced to **$10 million** last quarter. 4. **Advertising Revenue Growth** Reddit’s advertising revenue climbed to **$315.1 million** , contributing significantly to its overall earnings. 5. **New Revenue Streams** The company earned **$33.2 million** from “other” revenue sources, primarily due to data licensing agreements with major players like **Google** and **OpenAI** , allowing them to train AI models using Reddit’s content. **Read more at:** [The Verge](https://www.theverge.com/2024/10/29/24283056/reddit-earnings-user-growth-revenue-up) | [Reddit Investor Relations](https://investor.redditinc.com/news-events/news-releases/news-details/2024/Reddit-Announces-Third-Quarter-2024-Results/)