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Reddit just turned a profit for the first time. As part of its third quarter earnings results released on Tuesday, the company reported a profit of $29.9 million, along with $348.4 million in revenue — a 68 percent increase year over year.

The company hasn’t been profitable at any point in its nearly 20-year history. Since going public, Reddit lost $575 million during its first quarter on the market, but it decreased that loss to $10 million last quarter and is now finally in the black.

Reddit’s advertising revenue grew to $315.1 million, while “other” revenue reached $33.2 million on account of “data licensing agreements signed earlier this year.” Both Google and OpenAI have cut deals with Reddit to train their AI models on its posts.

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[-] UlyssesT@hexbear.net 19 points 6 hours ago

Too bad it's utter and complete shit to actually try to use now.

[-] AmericaDelendaEst@hexbear.net 13 points 5 hours ago* (last edited 5 hours ago)

Can't even fucking use it when I have one account temp banned for some actual, straight up bullshit, which triggers a perma ban on my other account, FOR SOME REASON. It is literally impossible to just speak to a fucking admin to get help

Had a third account. It got summarily banned for "hate" for telling the /r/judaism, or Jewish, I don't remember, to "cry more and support more genocide" when they banned me for calling someone a racist jackass (it was a thread linked here about some nurse crybaby sobbing wailfully over- GASP- A PALESTINIAN WEARING A KAFFIYEH) after they equated said kaffiyeh wearing with "wearing a hat that says FUCK JEWS"

There's like 27 different layers of automated moderation automatic banning bullshit ostensibly to stop bots AND YET IT'S STILL FULL OF BOTS

[-] corgiwithalaptop@hexbear.net 8 points 4 hours ago

I remember that thread, I got banned from judiasm for saying "grow up"

[-] UlyssesT@hexbear.net 8 points 5 hours ago

A PALESTINIAN WEARING A KAFFIYEH

Existing is a threat to people that want to see others cease to exist. hitler-detector

this post was submitted on 01 Nov 2024
53 points (100.0% liked)

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