Reddit’s Explosive User Growth and AI Tools Help It Soar to Its First-Ever Profit

March 28, 2022, Brazil. In this photo illustration, a woman’s silhouette holds a smartphone with the Reddit logo displayed on the screen and in the background

NEW YORK (AP) — For the first time in its nearly 20-year history, Reddit is turning a profit. The social platform claimed a profit of $29.9 million for the period ending in September, and reported sales of $348.4 million, an amount surpassing the $312.8 million analysts had projected. Reddit also grew its number of daily users to 97.2 million, a 47% increase from the same time last year. That’s according to a company statement.