# Reddit (RDDT) Q2 2026 earnings

Results filed 2026-07-30 for the quarter ended 2026-06-30. Source page: https://earnings.opennash.com/companies/rddt/2026-q2/
Press release and exhibits: https://www.sec.gov/Archives/edgar/data/1713445/000171344526000098/0001713445-26-000098-index.htm
> Summaries and transcripts are machine-generated and can contain errors.

## In brief

Reddit reported Q2 2026 revenue of $805 million, up 61% year-over-year, net income of $253 million and diluted EPS of $1.25, with Adjusted EBITDA of $343 million.

Reddit's second quarter was another strong one. Revenue of $805 million grew 61% from a year ago, the eighth straight quarter above 60%. Advertising revenue rose 64% to $762 million. Net income more than doubled to $253 million. Daily active uniques rose 18% to 130.3 million, with international users growing much faster than U.S. users. Reddit also bought back $235 million of its stock.
For the third quarter, Reddit expects revenue of $860 million to $870 million and Adjusted EBITDA of $385 million to $395 million. The main risk is user growth. The CEO said search referrals were choppy and more volatile later in the quarter, and that Reddit's visibility in referral traffic remains low. U.S. daily users grew only 6% and logged-in users grew just 7%.

## Key numbers

| Metric | Value | Change | Basis |
| --- | --- | --- | --- |
| Revenue | $805 million | up 61% year-over-year | GAAP |
| Net income | $253 million | up $164 million from the prior year, more than doubling year-over-year | GAAP |
| Diluted EPS | $1.25 | more than doubling year-over-year | GAAP |
| Gross margin | 91.3% | up 50 bps year-over-year | GAAP |
| Income from operations | $231,716 |  | GAAP |
| Operating cash flow | $262 million | up 135% year-over-year | GAAP |
| Free cash flow | $261 million | up $150 million from the prior year | non-GAAP |
| Adjusted EBITDA | $343 million | up 106% year-over-year | non-GAAP |

## Segments and operating metrics

| Name | Value | Change |
| --- | --- | --- |
| Ad revenue | $762 million | up 64% year-over-year |
| Other revenue | $43 million | up 24% year-over-year |
| U.S. revenue | $638 million | up 56% year-over-year |
| International revenue | $167 million | up 84% year-over-year |
| Daily Active Uniques (DAUq) | 130.3 million | up 18% year-over-year |
| Weekly Active Uniques (WAUq) | 514.6 million | up 24% year-over-year |
| Global ARPU | $6.18 | up 36% year-over-year |

## Outlook

| Metric | Period | Outlook |
| --- | --- | --- |
| Revenue | third quarter of 2026 | $860 million to $870 million |
| Adjusted EBITDA | third quarter of 2026 | $385 million to $395 million |

## Key takeaways

1. **Revenue growth topped 60% for eighth straight quarter** Revenue of $805 million grew 61% year-over-year, with Ad revenue up 64% to $762 million. Management called it the 8th consecutive quarter over 60%.
2. **Profits more than doubled year-over-year** Net income was $253 million and diluted EPS was $1.25, both up over 2x. Adjusted EBITDA of $343 million was 43% of revenue, up 106% year-over-year.
3. **User growth is international and logged-out** International DAUq grew 28% while U.S. DAUq grew 6%. Logged-out users grew 27% and logged-in users grew 7%.
4. **Search referral traffic was choppy and volatile** The CEO said search referrals were choppy in the quarter, and traffic was more volatile later in the quarter. He said the commercial business is strong.
5. **Q3 guidance implies continued growth and margins** Reddit guided Q3 2026 revenue to $860 million to $870 million and Adjusted EBITDA to $385 million to $395 million. It also repurchased 1.5 million shares for $235 million in Q2.

## Questions

**What were Reddit's Q2 2026 headline results?** Revenue was $805 million, up 61% year-over-year. Net income was $253 million and diluted EPS was $1.25, both more than double the prior year.
**How fast are Reddit's users growing?** DAUq rose 18% to 130.3 million and WAUq rose 24% to 514.6 million. International DAUq grew 28% versus 6% in the U.S.
**What is Reddit's guidance for the third quarter of 2026?** Reddit expects revenue of $860 million to $870 million and Adjusted EBITDA of $385 million to $395 million.
**How profitable was Reddit in Q2 2026?** Adjusted EBITDA was $343 million, a 43% margin, up 106% year-over-year. Gross margin was 91.3% and free cash flow was $261 million.
**What is the main risk Reddit flagged?** The CEO said search referrals were choppy and more volatile later in the quarter, and that Reddit's visibility in referral traffic remains low. He said the product work aims to build a daily destination rather than depend on search traffic.