Reddit earnings: date, guidance and watch
MyStockButler's October 2026 analysis: Reddit’s next results are expected on February 4, 2027. Watch whether Reddit turns fewer search referrals into a smaller but more valuable audience.
What has Reddit guided for the year?
Management’s latest forecast calls for continued revenue growth and a large increase in adjusted EBITDA, a measure of operating performance. The guidance implies that Reddit will remain much larger than it was a year earlier, although growth is slowing from the previous quarter.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Revenue | Quarter to Dec 2026 | 1,000 | 1,030 | Oct 29, 2026 |
| Adjusted EBITDA | Quarter to Dec 2026 | 480 | 510 | Oct 29, 2026 |
What this means. Adjusted earnings before interest, taxes, depreciation, and amortization are not the company's official profit, and it has not shown how they connect to that profit.
Has Reddit kept its past promises?
The company has exceeded both its revenue and adjusted EBITDA ranges in each of the eight quarters checked. That record suggests management has set cautious ranges, but it does not guarantee that future growth will satisfy investors.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Revenue | 8 quarters | 8 | 0 | 0 |
| Adjusted EBITDA | 8 quarters | 8 | 0 | 0 |
What are Reddit’s last eight quarters of revenue and profit?
Revenue reached $894.957 million, up 53.0% from the September 2025 quarter. Advertising revenue rose 54%, while other revenue rose 35%. Gross margin improved from 91.0% to 91.5%, and operating income rose from $138.542 million to $261.586 million. Free cash flow increased from $183.101 million to $362.568 million.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 894,957 | 804,905 | 663,411 | 725,607 | 584,911 | 499,627 | 392,361 | 427,707 |
| Gross margin | 91.5% | 91.3% | 91.5% | 91.9% | 91.0% | 90.8% | 90.5% | 92.6% |
| Operating income | 261,586 | 231,716 | 182,912 | 231,828 | 138,542 | 67,711 | 3,903 | 52,872 |
| Net income | 283,264 | 252,848 | 203,981 | 251,603 | 162,663 | 89,297 | 26,158 | 71,036 |
| EPS, diluted | 1.40 | 1.25 | 1.01 | 1.24 | 0.80 | 0.45 | 0.13 | 0.36 |
| = Free cash flow | 362,568 | 260,742 | 311,163 | 263,643 | 183,101 | 110,826 | 126,599 | 89,155 |
What should Reddit watch in its next release?
Management said search referrals fell by more than one million per week on average during October. It warned that daily users could fall by a low-double-digit percentage from a base of roughly 130 million if that pattern continued. Investors should therefore watch audience and revenue together: stable advertising sales with fewer users would suggest stronger earnings per visitor, but it would not prove that the decline had stopped.
Reddit also plans to test a primarily logged-in experience in selected markets outside the United States. Sign-ins could improve personalization and advertising, but a login screen could also make visitors leave. The useful measure is the combination of conversion, later retention and revenue.