Q2 26 EPS
$1.25
BEAT +29.23%
Est. $0.97
Q2 26 Revenue
$804.9M
BEAT +10.12%
Est. $731.0M
vs S&P Since Q2 26
-14.1%
TRAILING MARKET
RDDT -10.6% vs S&P +3.5%
Market Reaction
Did RDDT Beat Earnings? Q2 2026 Results
Reddit delivered a blowout second quarter, posting earnings per share of $1.25 against a consensus estimate of $0.97, a 29.23% beat that marks the company's fifth consecutive quarter of topping EPS expectations. Revenue climbed 61.1% year-over-year t… Read more Reddit delivered a blowout second quarter, posting earnings per share of $1.25 against a consensus estimate of $0.97, a 29.23% beat that marks the company's fifth consecutive quarter of topping EPS expectations. Revenue climbed 61.1% year-over-year to $804.90 million, clearing the $730.96 million consensus by 10.12%, with advertising revenue of $762 million, up 64% annually, serving as the primary engine behind the outperformance. Growth in both ad pricing and impressions, combined with broad strength across industry verticals, fueled the advertising surge as Reddit continued to capitalize on what CEO Steve Huffman described as the increasing value of authentic human perspective in an AI-saturated web. Profitability expanded sharply alongside revenue, with net income more than doubling to $252.85 million and adjusted EBITDA margin widening to 42.6%. Heading into the print, some investors had grown cautious amid choppy search referral traffic and uncertainty around Reddit's Google AI licensing deal, making the clean beat all the more notable. For Q3, management guided revenue of $860 million to $870 million with adjusted EBITDA of $385 million to $395 million.
Key Takeaways
- • Advertising revenue growth driven by YoY growth in pricing and impressions
- • Broad strength across the full ad funnel and industry verticals
- • International DAUq grew 28% YoY, driving international revenue growth of 84%
- • ARPU increased 36% YoY to $6.18 globally, with U.S. ARPU up 51% to $11.85
- • New app user retention up 50% YoY on a relative basis
- • Revenue grew 1.6x faster than total adjusted costs year-over-year
- • Crossed $1 million in revenue per employee milestone
RDDT Forward Guidance & Outlook
For Q3 2026, Reddit estimates revenue in the range of $860 million to $870 million and Adjusted EBITDA in the range of $385 million to $395 million. Management highlighted continued product investments in video, AI-driven content moderation, machine learning across the ads platform, and efforts to convert weekly active users into daily users. The company is targeting 1 billion daily users globally and 100 million in the U.S. as long-term goals. Search referrals were described as choppy in Q2 with more volatile traffic later in the quarter, but the broader commercial business was characterized as strong with differentiated revenue growth.
RDDT YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
RDDT Revenue by Segment
With YoY comparisons, source: SEC Filings
RDDT Revenue by Geography
With YoY comparisons, source: SEC Filings
“In an increasingly automated web, the value of real human perspective has never been higher. Reddit's commercial momentum reflects that.”
— Steve Huffman, Q2 2026 Earnings Press Release
RDDT Earnings Trends
RDDT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
RDDT EPS Trend
Earnings per share: estimate vs actual
RDDT Revenue Trend
Quarterly revenue: estimate vs actual
RDDT Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $0.97 | $1.25 | +29.23% | $804.9M | +10.12% |
| Q1 26 BEAT | $0.56 | $1.01 | +79.11% | $663.4M | +7.99% |
| Q4 25 BEAT FY | $0.93 | $1.24 | +33.13% | $725.6M | +8.78% |
| FY Full Year | $2.33 | $2.62 | +12.53% | $2.20B | +2.67% |
| Q3 25 BEAT | $0.52 | $0.80 | +53.79% | $584.9M | +6.44% |
| Q2 25 BEAT | $0.19 | $0.45 | +138.35% | $499.6M | +17.29% |
| Q1 25 BEAT | $0.01 | $0.13 | +870.15% | $392.4M | +6.14% |