Reddit beat Wall Street's third-quarter numbers, then lost about a quarter of its value on its outlook
Revenue grew 53% and profit jumped, but a fourth-quarter forecast that landed below analysts' hopes, plus a warning about Google traffic, sent the stock sharply lower.
On the numbers alone, Reddit's third quarter was a good one. The problem was the next one.
According to the earnings release Reddit filed with the SEC on Oct 29, revenue for the quarter ended Sept 30 came in at $895 million, up 53% from $585 million a year earlier. Net income was $283 million, up 74%…
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