Reddit Stock Jumps on Surprise Profit, Buoyant Outlook

KEY TAKEAWAYSReddit shares are surging 24% in premarket trading Wednesday after the social media firm posted its first quarterly profit as a public company with higher-than-estimated results and a rosy fourth-quarter outlook.Reddit posted third-quarter revenue of $348.4 million, up 68% from the same period last year and beating Visible Alpha estimates.It reported a third-quarter net profit of $29.9 million, or 16 cents per share, versus estimates of a net loss of $17.7 million, or 10 cents per share.For the ...