Reddit has achieved profitability for the first time, marking a significant milestone in its growth trajectory. The platform reported nearly 100 million daily active users, a substantial increase from previous figures. This growth in user base has been accompanied by a robust increase in revenue, with Reddit reporting a profit of $29.9 million and revenue of $348.4 million in its third-quarter earnings .

The company's daily active users rose to 97.2 million, up from 66 million in the previous year's quarter. This growth is slightly below the FactSet consensus of 97.89 million users but still represents a significant year-over-year increase .

Reddit's stock has responded positively to these developments, with shares surging about 25% in extended trading following the announcement of its profitability and user growth .

The platform's success can be attributed to its ability to monetize its user base effectively, as well as its strategic focus on expanding its community-driven content and engagement. This achievement underscores Reddit's potential as a major player in the social media landscape, with continued growth and expansion on the horizon.