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Reddit claimed to have fixed a software flaw that was preventing tens of thousands of Americans from using the social media site on Wednesday. According to Downdetector, which monitors outages by compiling status information from multiple sources, including user reports, the outage started at approximately 3 p.m.
ET. Approximately 49,000 reports of platform issues were made at its height. The company reported a profit per share of 16 cents for the third quarter ended September 2024, compared with a loss of 13 cents in the year-ago quarter.
Analysts, on average, had expected a loss of 7 cents per share. Revenue in the September quarter rose 68% to $348.4 million, beating analysts’ estimate of $312.
8 million, Reuters reported. Reddit’s daily active unique visitors increased 47% to 97.2 million in Q3, while its global average revenue per user (ARPU) increased 14% to $3.
58. According to data compiled by LSEG, the company expects its revenue to be between $385 million and $400 million in the fourth quarter, compared with analysts’ average estimate of $357.9 million.
In 2025, the company will be modernizing its search products with improved results page, autocomplete features and integration of large language models to improve search results, CEO Steve Huffman said on a post-earnings call. Livemint tops charts as the fastest growing news website in the world to know more. 3.
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