Reddit Stock Rockets 42% As Company Posts First Profit Since IPO And Makes Its Case As An AI Winner – Deadline

                By <a href="https://deadline.com/author/dade-hayes/"><span>Dade Hayes</span></a>             <br>Business Editor<br>     <a  href="https://deadline.com/tag/reddit/"  id="auto-tag_reddit"  data-tag="reddit"  >Reddit</a> stock zoomed 42% Wednesday after the tech firm posted a surprise quarterly profit, its first since going public last March.<br>     Shares finished at $116.05 on trading volume more than eight times normal levels as investors registered the fact that the company is shaping up as an unexpected winner in the <a  href="https://deadline.com/tag/artificial-intelligence/"  id="auto-tag_artificial-intelligence"  data-tag="artificial-intelligence"  >artificial intelligence</a> arms race.<br>   Earnings in the <a  href="https://deadline.com/tag/third-quarter/"  id="auto-tag_third-quarter"  data-tag="third-quarter"  >third quarter</a> ended September 30 came in at 16 cents a share, with revenue at $348.4 million. Wall Street analysts had been expecting a loss of 7 cents a share and revenue of $314 million, according to FactSet.   <div class="injected-related-story // u-margin-tb-250 u-margin-t-4@desktop-xl u-margin-b-3@desktop-xl" >    <h3 id="title-of-a-story" class="c-title  u-margin-b-025 u-border-t-4 u-padding-t u-border-color-brand-red">                                    Related Stories          </h3>  <div class="u-flex u-padding-tb-1 u-border-t-1 u-border-b-1 u-flex-direction-column@mobile-max u-border-color-grey-medium-light" >                  <article class="o-card  u-flex u-flex-flex-grow-1 u-width-100p@mobile-max u-width-50p">             <a tabindex="0" href="https://deadline.com/2024/10/court-tv-ai-veritone-deal-1236160749/" class="">                             <div class="c-lazy-image  u-width-150 u-margin-t-1">                <div class="lrv-a-crop-3x2 a-crop-16x9 u-margin-t-n0" style="">                 <img decoding="async" class="c-lazy-image__img lrv-u-background-color-grey-lightest lrv-u-width-100p lrv-u-display-block lrv-u-height-auto" src="https://deadline.com/wp-content/themes/pmc-deadline-2019/assets/public/lazyload-fallback.jpg" data-lazy-src="https://deadline.com/wp-content/uploads/2024/10/unnamed.png?w=300" alt="" data-lazy-srcset="" data-lazy-sizes="" height="" width="">               </div>      </div>                          <div class="o-card__content u-padding-lr-050 u-padding-lr-125@tablet u-padding-lr-125@mobile-max">                          <span class="c-span  lrv-u-whitespace-nowrap">  <a href="https://deadline.com/category/news/" class="c-span__link  a-font-accent-bold-xs u-color-brand-red u-text-transform-uppercase u-display-block">      News    </a> </span>                            <h3 id="title-of-a-story" class="c-title  a-font-secondary-m">                  <a href="https://deadline.com/2024/10/court-tv-ai-veritone-deal-1236160749/" class="c-title__link a-font-secondary-m lrv-a-unstyle-link lrv-u-color-brand-primary:hover"  >                                 Court TV Strikes Deal With AI Company Veritone To Store &amp; License Archival Trial Footage                    </a>     </h3>                                          </div>          </a>     </article>                             <article class="o-card  u-flex u-flex@mobile-max u-flex-flex-grow-1 u-padding-l-125@tablet u-margin-t-125@mobile-max u-width-100p@mobile-max u-width-50p u-border-l-1@tablet u-border-dotted-l@tablet u-border-color-grey-medium-light">            <a tabindex="0" href="https://deadline.com/2024/10/peter-cushing-ai-sky-hammer-heroes-monsters-1236158468/" class="">                             <div class="c-lazy-image  u-width-150 u-margin-t-1">                <div class="lrv-a-crop-3x2 a-crop-16x9 u-margin-t-n0" style="">                 <img decoding="async" class="c-lazy-image__img lrv-u-background-color-grey-lightest lrv-u-width-100p lrv-u-display-block lrv-u-height-auto" src="https://deadline.com/wp-content/themes/pmc-deadline-2019/assets/public/lazyload-fallback.jpg" data-lazy-src="https://deadline.com/wp-content/uploads/2024/10/GettyImages-166427843-e1730105471161.jpg?w=300" alt="Peter Cushing Frankenstein" data-lazy-srcset="" data-lazy-sizes="" height="" width="">                 </div>      </div>                          <div class="o-card__content u-padding-l-125">                           <span class="c-span  lrv-u-whitespace-nowrap">  <a href="https://deadline.com/category/news/" class="c-span__link  a-font-accent-bold-xs u-color-brand-red u-text-transform-uppercase u-display-block">      News    </a> </span>                            <h3 id="title-of-a-story" class="c-title  a-font-secondary-m">                  <a href="https://deadline.com/2024/10/peter-cushing-ai-sky-hammer-heroes-monsters-1236158468/" class="c-title__link a-font-secondary-m lrv-a-unstyle-link lrv-u-color-brand-primary:hover"  >                                 Peter Cushing Becomes Latest Icon To Be Given AI Resurrection In Sky Hammer Films Doc                   </a>     </h3>                                          </div>          </a>     </article>             </div> </div><br>   Just about every metric in the quarter was up and to the right.     <div class="admz" id="adm-inline-article-ad-1">                     <div class="adma boomerang" data-device="Desktop" data-width="1">                <div style="min-width:50px;min-height:75px;"   class="pmc-adm-boomerang-pub-div ad-text"   data-priority="10" >    <div id="gpt-dsk-tab-mid-article1-uid0"         class="adw-1 adh-1" data-is-adhesion-ad="">         <script type="application/javascript">

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