Equity Profile

RDDT

Reddit, Inc.

Communication ServicesInteractive Media & Services$32.6B

Jul30Thu

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Reddit, Inc. is a platform for community-driven discussions, allowing users to share content and engage in conversations....

Key Metrics to Watch

User Engagement Growth

Increased user engagement can lead to higher advertising revenue, which is crucial for Reddit's financial health.

N/A

Advertising Revenue

This is a primary source of income for Reddit, and any growth or decline will significantly impact overall performance.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

RDDT Q2-2026 Earnings Preview

Context

Company Snapshot

Reddit, Inc. is a platform for community-driven discussions, allowing users to share content and engage in conversations. As a key player in the Communication Services sector, Reddit's performance is influenced by trends in social media engagement and digital advertising revenue.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+145.62%

Avg Stock Reaction

-0.02%

Last Quarter Recap

In Q1 2026, Reddit reported an earnings per share (EPS) of $1.01, significantly beating expectations of $0.62. However, the stock saw a slight decline the following day, indicating mixed market reactions.

Management Promises & Guidance

Focus on enhancing user engagement through new features.
Commitment to increasing advertising partnerships.
Plans to expand into new markets.

Expectations

Wall Street Expectations

Investors are cautiously optimistic ahead of Reddit's Q2 earnings report, particularly given the company's strong EPS performance in recent quarters. However, there is uncertainty regarding user engagement and advertising revenue growth.

Bull Case

If Reddit continues to show strong user engagement and advertising revenue growth, it could lead to further stock appreciation and investor confidence.

Bear Case

Conversely, if user engagement stagnates or advertising revenue declines, it could raise concerns about the company's growth prospects and negatively impact the stock.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current Monthly Active User (MAU) count and how does it compare to previous quarters?

This metric is crucial for understanding user engagement trends and potential advertising revenue growth.

What are the latest developments in advertising partnerships and revenue growth?

Advertising revenue is a key driver for Reddit's financial performance, and insights here could impact investor sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of new user engagement features that could drive higher advertising revenue, despite concerns about user growth.

Supporting Evidence

Recent insider selling could indicate a lack of confidence in future performance, which contrasts with the optimistic market sentiment.

Options pricing suggests a significant move, indicating that investors are bracing for potential volatility.

Reddit's historical EPS beat rate of 100% may not fully reflect the challenges in sustaining user engagement.

Key Risk

If user engagement metrics show a significant decline, it could lead to a reevaluation of the company's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Reddit can sustain its growth trajectory in user engagement and advertising revenue, which are critical for its future performance.

Bull Confirmed If

A user engagement growth rate of over 15% quarter-over-quarter would confirm the bullish case.

Bear Confirmed If

If advertising revenue declines by more than 5% compared to the previous quarter, it would support the bearish outlook.

Pre-Earnings Positioning

Options Market

Implied Move

±20.17%

Historical Avg

±3.3%

Pricing rich

The options market is pricing in a significant potential move, indicating that investors expect volatility around the earnings announcement.

Options are pricing ±20.2% while RDDT has averaged ±3.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

73.6%

Calls (3.2M)P/C Ratio: 0.38Puts (1.1M)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$9.2M

57,167 sh

2 insiders

Net

$9.2M

Net selling

Most Active Insiders· 11 open-market trades

Chief Operating OfficerWong Jennifer L.
$6.3M
Net selling

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Reddit beats expectations and raises guidance, history suggests the stock could move up around 3.35% on the first day.

In-Line / Cautious

A cautious in-line report could lead to muted reactions, with the stock potentially moving sideways as investors assess future growth.

Miss

If Reddit misses expectations, history suggests a potential decline of around 7.76% in the stock price.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on user engagement initiatives and their impact on MAUs.
2Details on advertising revenue growth and new partnerships.
3Any commentary on market expansion efforts and their expected outcomes.
4Insights into competitive pressures in the interactive media space.
5Management's outlook on future earnings and growth strategies.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

Jul27

KRCAMC

Kilroy Realty Corporation

PreviewView

Jul27

PIIAMC

Company Snapshot

Reddit, Inc. is a platform for community-driven discussions, allowing users to share content and engage in conversations....

Key Metrics to Watch

User Engagement Growth

Increased user engagement can lead to higher advertising revenue, which is crucial for Reddit's financial health.

N/A

Advertising Revenue

This is a primary source of income for Reddit, and any growth or decline will significantly impact overall performance.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

RDDT Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+145.62%

Avg Stock Reaction

-0.02%

Last Quarter Recap

Management Promises & Guidance

Focus on enhancing user engagement through new features.
Commitment to increasing advertising partnerships.
Plans to expand into new markets.

Expectations

Wall Street Expectations

Bull Case

If Reddit continues to show strong user engagement and advertising revenue growth, it could lead to further stock appreciation and investor confidence.

Bear Case

Conversely, if user engagement stagnates or advertising revenue declines, it could raise concerns about the company's growth prospects and negatively impact the stock.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current Monthly Active User (MAU) count and how does it compare to previous quarters?

This metric is crucial for understanding user engagement trends and potential advertising revenue growth.

What are the latest developments in advertising partnerships and revenue growth?

Advertising revenue is a key driver for Reddit's financial performance, and insights here could impact investor sentiment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of new user engagement features that could drive higher advertising revenue, despite concerns about user growth.

Supporting Evidence

Recent insider selling could indicate a lack of confidence in future performance, which contrasts with the optimistic market sentiment.

Options pricing suggests a significant move, indicating that investors are bracing for potential volatility.

Reddit's historical EPS beat rate of 100% may not fully reflect the challenges in sustaining user engagement.

Key Risk

If user engagement metrics show a significant decline, it could lead to a reevaluation of the company's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Reddit can sustain its growth trajectory in user engagement and advertising revenue, which are critical for its future performance.

Bull Confirmed If

A user engagement growth rate of over 15% quarter-over-quarter would confirm the bullish case.

Bear Confirmed If

If advertising revenue declines by more than 5% compared to the previous quarter, it would support the bearish outlook.

Pre-Earnings Positioning

Options Market

Implied Move

±20.17%

Historical Avg

±3.3%

Pricing rich

The options market is pricing in a significant potential move, indicating that investors expect volatility around the earnings announcement.

Options are pricing ±20.2% while RDDT has averaged ±3.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

73.6%

Calls (3.2M)P/C Ratio: 0.38Puts (1.1M)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$9.2M

57,167 sh

2 insiders

Net

$9.2M

Net selling

Most Active Insiders· 11 open-market trades

Chief Operating OfficerWong Jennifer L.
$6.3M
Net selling

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Reddit beats expectations and raises guidance, history suggests the stock could move up around 3.35% on the first day.

In-Line / Cautious

A cautious in-line report could lead to muted reactions, with the stock potentially moving sideways as investors assess future growth.

Miss

If Reddit misses expectations, history suggests a potential decline of around 7.76% in the stock price.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on user engagement initiatives and their impact on MAUs.
2Details on advertising revenue growth and new partnerships.
3Any commentary on market expansion efforts and their expected outcomes.
4Insights into competitive pressures in the interactive media space.
5Management's outlook on future earnings and growth strategies.