Reddit, Inc. Posts Profit-to-Profit Growth on Revenue, Operating Income, Net Income, and Diluted EPS Across Both Reporting Windows

Bottom line

Reddit, Inc., trading under RDDT, posted higher revenue, operating income, net income, and diluted earnings per share on both the three-month and six-month year-to-date windows in the interim filing identified by 10-Q period-ended-2026-06-30 under accession 0001713445-26-000100, with the central identifier 0001713445 tying the submission to a single SEC filer. In every direction this article tracks, the latest reporting period outperformed the prior-year period, and the picture is one of profit-to-profit expansion rather than a swing from a loss into a profit or vice versa. The filing therefore sets up the rest of this analysis as a story of growth on top of an already profitable base, not a turnaround.

On the top line, Revenue from Contract with Customer, Excluding Assessed Tax was $804,905,000 USD for the three months ended June 30, 2026 and $1,468,316,000 USD for the six months ended June 30, 2026, both higher than the corresponding prior-year levels of $499,627,000 USD and $891,988,000 USD. Operating Income (Loss) followed the same shape, reaching $231,716,000 USD for the three-month period and $414,628,000 USD for the six-month period, compared with $67,711,000 USD and $71,614,000 USD a year earlier. Net Income (Loss) Attributable to Parent landed at $252,848,000 USD for the three months ended June 30, 2026 and $456,829,000 USD for the six months ended June 30, 2026, versus $89,297,000 USD and $115,455,000 USD in the prior year. Per-share profitability told the same story: Earnings Per Share, Diluted was $1.25 per diluted share USD/SHARES for the quarter and $2.26 per diluted share USD/SHARES for the year-to-date, up from $0.45 per diluted share USD/SHARES and $0.58 per diluted share USD/SHARES, respectively.

The source scope for this section is narrow by design. This is the company's own interim filing, filed for the three and six months covered, and the only evidence treated as authoritative is what appears on the face of that document. Reddit's own narrative explains that the company monetizes primarily through advertising on its mobile applications and website, that it tracks daily active uniques (DAUq) and weekly active uniques (WAUq) to gauge platform engagement, and that it computes average revenue per unique (ARPU) by dividing quarterly revenue in a given geography by the average DAUq in that geography. Management also flags that the methodology used to filter suspicious traffic was refined during the three months ended December, without materially altering quarter-to-quarter trends.

A reader comparing this Reddit interim with peer filings on Lizely Finance, such as the Broadcom interim showing higher revenue, operating income, and diluted EPS year-over-year or the ONEOK interim showing higher revenue, operating income, net income, and diluted EPS year-over-year, will notice a common surface pattern: profit-to-profit growth on every window reported. None of this section's facts are segment-level, so The filing evidence does not disclose segment-level detail for this dimension. applies here, and The filing evidence does not attribute this change to any single cause. covers any attempt to explain the gap. The filing evidence contains no peer or industry comparison. also applies, because the filing itself contains no industry or peer comparison.

Financial performance

Reported facts: Reddit, Inc.'s interim filing under accession 0001713445-26-000100 on form 10-Q for period-ended-2026-06-30 presents the headline financial lines for both the three-month reporting period the three months ended June 30, 2026 and the six-month year-to-date period the six months ended June 30, 2026, alongside the prior-year comparative windows the three months ended June 30, 2025 and the six months ended June 30, 2025. Revenue from Contract with Customer, Excluding Assessed Tax was $804,905,000 USD for the three months ended June 30, 2026 and $1,468,316,000 USD for the six months ended June 30, 2026, against prior-year comparatives of $499,627,000 USD and $891,988,000 USD, respectively. Operating Income (Loss) was $231,716,000 USD for the three months ended June 30, 2026 and $414,628,000 USD for the six months ended June 30, 2026, versus $67,711,000 USD and $71,614,000 USD in the prior-year windows. Net Income (Loss) Attributable to Parent was $252,848,000 USD for the three months ended June 30, 2026 and $456,829,000 USD for the six months ended June 30, 2026, against $89,297,000 USD and $115,455,000 USD. Earnings Per Share, Diluted was $1.25 per diluted share USD/SHARES for the three months ended June 30, 2026 and $2.26 per diluted share USD/SHARES for the six months ended June 30, 2026, with prior-year comparatives of $0.45 per diluted share USD/SHARES and $0.58 per diluted share USD/SHARES. Compared with the prior-year windows, revenue, operating income, net income, and diluted EPS were higher on both the three-month and six-month comparisons, and all four lines moved profit to profit on both windows.

Management explanation: Reddit's narrative frames the period around a transition in traffic reporting — management notes that, beginning in the quarter ended September (omitted), logged-in and logged-out DAUq will no longer be reported, with global DAUq and DAUq by geography now the primary lens for evaluating core operating performance. Management attributes the year-over-year change in global DAUq in the three months ended June (omitted) to a combination of third-party search engine algorithm changes and growth initiatives in machine translation, marketing, and product improvements, and the sequential change to growth initiatives in marketing and product improvements, partially offset by third-party search engine algorithm changes. On monetization, management cites higher ad pricing in the three months ended June (omitted) versus the prior year, driven by improved performance across the full funnel of ad objectives and higher advertiser demand, and an increase in ad impressions delivered, supported by ad load optimization, new ad placements, and growth in users and engagement. Management also describes its non-GAAP measures, Adjusted EBITDA and Free Cash Flow, as supplemental to the GAAP financial statements. Readers comparing across interim filings can place these dynamics alongside the parallel profit-to-profit framing in the Lizely Finance Earnings Analysis — UFP TECHNOLOGIES INC Interim Filing: Profit-to-Profit Growth on Both Windows.

Analyst inference: Within the authorized comparisons, the year-over-year movement on revenue, operating income, net income, and diluted EPS for both the three months ended June 30, 2026 versus the three months ended June 30, 2025 and the six months ended June 30, 2026 versus the six months ended June 30, 2025 is consistent with the management narrative of higher ad pricing, higher ad impressions, and DAUq expansion, and with the profit-to-profit transition on both windows. The filing evidence does not attribute this change to any single cause.

Counter-evidence: None presented in the filing beyond management's own attribution of traffic and pricing dynamics; the SEC disclosure does not provide an independent reconciliation that would contradict the stated drivers.

Unknowns: The filing evidence contains no peer or industry comparison. The filing evidence does not disclose segment-level detail for this dimension.

Operating drivers and segments

The filing presents Reddit, Inc. as a single reportable segment, with revenue, operating income, and other measures aggregated at the consolidated level rather than broken out by business line or geography in the income statement. The filing evidence does not disclose segment-level detail for this dimension. Reported Revenue from Contract with Customer, Excluding Assessed Tax for the three-month reporting period of the three months ended June 30, 2026 stood at $804,905,000 USD, compared with $499,627,000 USD in the prior-year comparative for the three-month reporting period of the three months ended June 30, 2025. On a six-month year-to-date basis, the current period of the six months ended June 30, 2026 registered $1,468,316,000 USD against $891,988,000 USD for the prior-year comparative for the six-month year-to-date period of the six months ended June 30, 2025. Operating Income (Loss) for the three-month reporting period of the three months ended June 30, 2026 reached $231,716,000 USD, versus $67,711,000 USD in the prior-year comparative for the three-month reporting period of the three months ended June 30, 2025. The six-month year-to-date Operating Income (Loss) for the current period of the six months ended June 30, 2026 was $414,628,000 USD, compared with $71,614,000 USD for the prior-year comparative for the six-month year-to-date period of the six months ended June 30, 2025. Because Reddit does not separate advertising revenue from other revenue streams in its segment reporting, margin movements cannot be cleanly attributed to a specific product mix from this filing alone.

Management frames the operating story around user engagement and monetization metrics rather than traditional cost line items. The narrative defines daily active uniques (DAUq) as a user identified with a unique identifier who has visited Reddit or opened a Reddit application at least once during a (omitted) period, calculated as an average across the days of the period. DAUq is broken out by United States versus rest of the world because these markets have different characteristics, with engagement and monetization described as more advanced in the United States. Management also describes weekly active uniques (WAUq) over a trailing seven-day window and average revenue per unique (ARPU) as the division of quarterly revenue by average DAUq within a geography. For the current quarter, management states that global DAUq grew compared to the prior quarter period, driven by (omitted) growth in DAUq in the rest of world, while DAUq in the United States remained relatively flat. Management also notes that year-over-year change in global DAUq for the relevant three-month window was primarily driven by the combination of third-party search engine algorithm changes and growth initiatives in machine translation, marketing, and product improvements, with quarter-over-quarter change primarily driven by growth initiatives in marketing and product improvements, partially offset by third-party search engine algorithm changes. Advertising is identified as the primary monetization channel, with the fourth quarter described as typically the strongest quarter of each year, especially in the United States.

The filing evidence does not attribute this change to any single cause. Independent verification against peer or industry benchmarks is not present in the filing evidence, leaving the magnitude of revenue and operating income growth relative to comparable social platforms untested by this filing alone. Readers comparing this report to filings such as Broadcom Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in the reporting period Filing should note that Reddit's segment structure differs materially, so direct line-item comparisons across companies are limited.

Cash flow and capital

Reddit's 10-Q period-ended-2026-06-30 filing under accession 0001713445-26-000100 (CIK 0001713445, ticker RDDT) describes a company in a clearly cash-generative posture on its operating line, paired with a working-capital base that funds both shareholder returns and ongoing reinvestment.

On the cash flow statement itself, Net Cash Provided by (Used in) Operating Activities was $261,876,000 USD for the three-month reporting period the three months ended June 30, 2026 and $574,129,000 USD for the six-month year-to-date period the six months ended June 30, 2026, both higher than the prior-year comparatives of $111,331,000 USD (the three months ended June 30, 2025) and $238,909,000 USD (the six months ended June 30, 2025). That step-up in operating cash flow, while positive on both windows, is not further explained inside the excerpt beyond the directional authorization above; The filing evidence does not attribute this change to any single cause..

The investing line tells a notably different story across years. Net Cash Provided by (Used in) Investing Activities was $94,714,000 USD for the three months ended June 30, 2026 and $219,536,000 USD for the six months ended June 30, 2026, both higher than the prior-year comparatives of -$2,076,000 USD and -$29,578,000 USD, which were negative on each window. The change in sign and direction is the most striking capital-flow item in the filing, but the excerpt does not attribute the swing to any single driver, so The filing evidence does not attribute this change to any single cause..

The financing line moved in the opposite direction. Net Cash Provided by (Used in) Financing Activities was -$244,100,000 USD for the three months ended June 30, 2026 and -$260,396,000 USD for the six months ended June 30, 2026, both lower than the prior-year comparatives of -$10,922,000 USD and -$37,413,000 USD. The heavier outflow sits alongside the company's renewed repurchase activity: Payments for Repurchase of Common Stock were $234,591,000 USD for the three months ended June 30, 2026 and $239,590,000 USD for the six months ended June 30, 2026, compared with prior-year amounts of $0 USD and $0 USD. The contrast — zero buybacks a year earlier versus positive buybacks now — is the cleanest signal in the filing of a shift toward returning capital, but the excerpt does not state why the program began or how it is sized; The filing evidence does not attribute this change to any single cause..

Reinvestment spending also edged higher. Payments to Acquire Property, Plant, and Equipment were $1,134,000 USD for the three months ended June 30, 2026 and $2,224,000 USD for the six months ended June 30, 2026, higher than the prior-year comparatives of $505,000 USD and $1,484,000 USD. Management's own commentary notes that capital intensity is limited because Reddit relies on third-party infrastructure partners to host its services, so the absolute size of the line remains small relative to revenue.

On the balance sheet side as of the balance sheet date of June 30, 2026, Cash and Cash Equivalents stood at $1,486,838,000 USD, with Accounts Receivable, after Allowance for Credit Loss, at $650,098,000 USD and Accounts Payable, Current at $89,144,000 USD. Together these working-capital items and the cash balance sit comfortably behind both the buyback program and the elevated capex run-rate.

Peer and historical context

- Versus the prior-year comparative for the three-month reporting period the three months ended June 30, 2025, the current three-month reporting period the three months ended June 30, 2026 shows higher Revenue from Contract with Customer, Excluding Assessed Tax ($804,905,000 vs $499,627,000), higher Operating Income (Loss) ($231,716,000 vs $67,711,000) remaining a profit on both sides, higher Net Income (Loss) Attributable to Parent ($252,848,000 vs $89,297,000) remaining a profit on both sides, and higher Net Cash Provided by (Used in) Operating Activities ($261,876,000 vs $111,331,000). - The same direction of movement is visible on the wider window: versus the prior-year comparative for the six-month year-to-date period the six months ended June 30, 2025, the six-month year-to-date period the six months ended June 30, 2026 shows higher Revenue ($1,468,316,000 vs $891,988,000), higher Operating Income (Loss) ($414,628,000 vs $71,614,000) again a profit on both sides, higher Net Income (Loss) Attributable to Parent ($456,829,000 vs $115,455,000) remaining a profit on both sides, and higher Net Cash Provided by (Used in) Operating Activities ($574,129,000 vs $238,909,000). - The fact that the quarter and half-year both move in the same authorized directions, with profits widening on both periods, indicates the growth is broad-based across the fiscal year-to-date rather than concentrated in the most recent quarter, and it mirrors the profit-to-profit interim pattern visible in other Lizely Finance coverage such as the UFP Technologies interim filing analysis and the ANI Pharmaceuticals interim filing analysis. - No counter-evidence in the ledger contradicts the authorized year-over-year directions: every supported comparison points the same way, and no claim in the ledger describes a decline, a swing to a loss, or a reversal on the supported dimensions. - The filing evidence contains no peer or industry comparison. - The filing evidence does not attribute this change to any single cause.

- The shift from a loss-making to a profit-making trajectory is not in evidence here because both the current and prior-year periods are profitable across net income and operating income on both windows, so any narrative of a turnaround or first-time profitability is unsupported by the figures. - Readers comparing Reddit with peers should note that the filing does not name any peer set or industry benchmark, so any cross-company ranking would have to come from outside this document; the in-filing historical anchors are limited to the company's own prior-year comparatives.

Scenario analysis

- Net Income (Loss) Attributable to Parent was $456,829,000 USD for (omitted) through (omitted); Net Income (Loss) Attributable to Parent was $252,848,000 USD for (omitted) through (omitted). - Revenue from Contract with Customer, Excluding Assessed Tax was $1,468,316,000 USD for (omitted) through (omitted); Revenue from Contract with Customer, Excluding Assessed Tax was $804,905,000 USD for (omitted) through (omitted). - Net Income (Loss) Attributable to Parent was $115,455,000 USD for (omitted) through (omitted); Net Income (Loss) Attributable to Parent was $89,297,000 USD for (omitted) through (omitted). - Revenue from Contract with Customer, Excluding Assessed Tax was $891,988,000 USD for (omitted) through (omitted); Revenue from Contract with Customer, Excluding Assessed Tax was $499,627,000 USD for (omitted) through (omitted). In a base case anchored to the 10-Q filed by Reddit, Inc. (RDDT) under accession 0001713445-26-000100, Reddit reports a continuation of the profit trajectory already booked across both windows of period-ended-2026-06-30. Revenue from Contract with Customer, Excluding Assessed Tax of $1,468,316,000 USD for the six months ended June 30, 2026 and $804,905,000 USD for the three months ended June 30, 2026 extends the authorized profit-to-profit direction against $891,988,000 USD for the six months ended June 30, 2025 and $499,627,000 USD for the three months ended June 30, 2025. Net Income (Loss) Attributable to Parent of $456,829,000 USD for the six months ended June 30, 2026 and $252,848,000 USD for the three months ended June 30, 2026 likewise continues the authorized profit-to-profit direction against $115,455,000 USD and $89,297,000 USD. The filing evidence does not attribute this change to any single cause. The cited narrative attributes revenue growth to higher ad pricing and more ad impressions delivered, but does not isolate how those dynamics translate into the specific net income levels captured here.

An upside path is supported by the prior-year comparatives themselves. The authorized direction shows Revenue from Contract with Customer, Excluding Assessed Tax climbing from $891,988,000 USD for the six months ended June 30, 2025 to $1,468,316,000 USD for the six months ended June 30, 2026, and from $499,627,000 USD for the three months ended June 30, 2025 to $804,905,000 USD for the three months ended June 30, 2026. Net Income (Loss) Attributable to Parent widens from $115,455,000 USD for the six months ended June 30, 2025 to $456,829,000 USD for the six months ended June 30, 2026, and from $89,297,000 USD for the three months ended June 30, 2025 to $252,848,000 USD for the three months ended June 30, 2026. The filing flags management's belief that a release of the United States valuation allowance could be recorded in the near term, which would inject a sizeable income tax benefit into the period of release; the timing remains conditional and is excluded from the central view. Patterns in similar interim disclosures — for example Broadcom Posts Higher Revenue, Operating Income, and Diluted EPS Year-Over-Year in the reporting period Filing and Lizely Finance Earnings Analysis — UFP TECHNOLOGIES INC Interim Filing: Profit-to-Profit Growth on Both Windows — illustrate how profit-to-profit comparatives can themselves become upside markers when current values exceed prior-year values.

A downside path is harder to read from the authorized directions because every visible line is positive and rising. Downside risks must be drawn from qualitative cues rather than from reversing the authorized direction. The cited narrative highlights that hosting costs associated with internal research and development activities have grown, with cost-of-revenue increases primarily attributable to higher hosting usage to support product enhancements and user growth, partially offset by lower hosting prices and efficiencies. General and administrative expenses include non-income-based taxes, insurance, and allocated facilities, any of which could rise further. The valuation allowance note itself is conditional on future profitability and macroeconomic conditions, so a slip in either dimension could defer the tax benefit and remove a potential cushion. The filing evidence does not attribute this change to any single cause.

Risks and what to watch

- The forward look on Reddit, Inc.'s interim filing under accession 0001713445-26-000100 turns on how durable the profit-to-profit transition is across both reporting windows, with net income attributable to parent at $252,848,000 USD for the three months ended June 30, 2026 and $456,829,000 USD for the six months ended June 30, 2026, compared with $89,297,000 USD for the three months ended June 30, 2025 and $115,455,000 USD for the six months ended June 30, 2025, framing an upside narrative that still needs confirmation rather than extrapolation.

Reported facts - Revenue from contract with customer, excluding assessed tax, reached $804,905,000 USD for the three months ended June 30, 2026 and $1,468,316,000 USD for the six months ended June 30, 2026, higher than the prior-year comparatives of $499,627,000 USD for the three months ended June 30, 2025 and $891,988,000 USD for the six months ended June 30, 2025. - The three-month and six-month filings both shifted from profit in the prior year to profit in the current year on the net income line, and revenue shifted upward on both windows year over year.

Management explanations - Reddit, Inc.'s own narrative attributes higher advertising revenue to stronger performance across the full funnel of ad objectives, higher advertiser demand, and optimization that lifted both price per ad and ad impressions delivered. - Cost of revenue is described as rising, with hosting usage to support product enhancements and user growth cited alongside lower hosting prices and hosting cost efficiencies. - Higher interest income on cash and investments is linked to a higher invested balance rather than to rate assumptions the filing spells out. - The income tax provision discussion describes a full valuation allowance against U.S. federal and state deferred tax assets, with management flagging the potential for a significant allowance release in future months that could swing reported tax expense.

Analyst inference - The combination of expanding ad impressions and rising price per ad suggests that the revenue trajectory is being supported by both demand-side and monetization improvements at the same time, which is what makes the growth look broader-based than a single-channel story. - Because both the quarter and the year-to-date period show profit-to-profit transitions alongside higher revenue, the operating leverage implied by the filing appears to be showing up on the bottom line rather than being absorbed by cost growth. - The framing of a contingent tax benefit tied to a future valuation allowance release introduces a non-operating swing factor that could move reported earnings independently of revenue or cost trends.

Counter-evidence - The filing evidence does not attribute this change to any single cause. - Cost of revenue is described as rising, with hosting usage and employee-related cost growth cited in the filing narrative, which limits how cleanly revenue growth flows to operating margin even as revenue expands. - Reported net income is also exposed to the contingent valuation allowance release, so a portion of any future tax benefit would be a one-time rather than recurring driver. - The discussion of stock-based compensation as a deductible item tied to the publicly traded share price introduces a market-dependent variable into the tax accounting that is not within management's control.

Unknowns - The filing evidence does not disclose segment-level detail for this dimension. - The filing does not separate revenue or cost behavior by segment beyond the geographic discussion already disclosed, so product-line or surface-level contribution cannot be inferred from the supplied text. - The filing evidence contains no peer or industry comparison. - The text does not name peers or industry benchmarks, so cross-company comparisons of ad pricing, impressions, or margin trends are not available in the filing evidence.

Metrics to watch next period - Whether the quarter-over-quarter and year-over-year growth in revenue from contract with customer, excluding assessed tax, continues across both windows at $804,905,000 USD for the three months ended June 30, 2026 and $1,468,316,000 USD for the six months ended June 30, 2026 relative to the prior-year comparatives, given the management-cited mix of price and impressions. - The path of net income attributable to parent at $252,848,000 USD for the three months ended June 30, 2026 and $456,829,000 USD for the six months ended June 30, 2026, particularly the timing and size of any valuation allowance release management flagged, since that item could materially reshape reported tax expense. - Cost of revenue dynamics, especially hosting usage versus hosting price efficiency, and employee-related cost growth, since the filing explicitly tied operating cost pressure to those drivers and they directly gate the conversion of revenue into profit. A reader comparing the pattern across peers can also look at how the same broad setup plays out elsewhere in Lizely Finance Earnings Analysis — UFP TECHNOLOGIES INC Interim Filing: Profit-to-Profit Growth on Both Windows.