The stock was down 13% in pre-market trading on Thursday, after the company said daily active unique visitors grew by 39% to 101.7 million in the fourth quarter. This missed analyst expectations of 103.3 million, according to LSEG-compiled data reported by Reuters.
However, Reddit (RDDT) reported a 71% increase in revenue at $427.7m (£343m), which beat estimates of $405.5m. For the year, total revenue was up 62% to $1.3bn.
Net income of $71m also bested expectations of $46.9m and was up from $18.5m for same period last year.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the fourth quarter came in at $154.3m, up from $23.3m for the same period last year.
Looking ahead to the first quarter, Reddit guided to revenue in the range of $360m to $370m, as well as adjusted EBITDA of between $80m and $90m.
Investment platform Robinhood (HOOD) surged in extended hours trading and was up 14.5% pre-market open on Thursday on the back of its latest results.
Robinhood posted revenue of $1.01bn, which were up 115% year-on-year and beat estimates of $940.8m. For the year, total net revenues increased 58% to $2.95bn.
Diluted earnings per share of $1.01 for the fourth quarter, were up from $0.03 for the same period in 2023.
Vlad Tenev, CEO and Co-Founder of Robinhood (HOOD), said: "We hit the gas on product development in 2024 with a new platform for active traders, Gold Card launch, an expanded UK and EU product suite, and much more."
Robinhood has already announced plans to expand into the Asia-Pacific this year, with local headquarters in Singapore.
Earlier this week, Robinhood launched options trading for its UK customers, in its latest expansion of features available on its platform to investors outside the US.
Japanese carmakers Nissan (7201.T) and Honda (7267.T) announced on Thursday that they were ending merger talks but said they would collaborate in the electric vehicles space.
Nissan (7201.T) shares were little changed at the close of Thursday's session in Tokyo, while Honda (7267.T) shares were up more than 2%.
Alongside the announcement, Nissan also outlined measures to turnaround company performance. The carmaker said it planned to reduce fixed and variable costs by a total of approximately 400 billion Japanese yen (£2bn) in the 2026 fiscal year.
Nissan (7201.T) said it planned to reduce 2,500 global indirect employees by "streamlining operations, implementing hiring reductions, and accelerating voluntary separation programs."
The company said it also planned to deliver savings by consolidating production lines, adjusting shift patterns, and transferring jobs, starting with three plants in the first quarter. As a result, this would lower headcount in vehicle and powertrain plants by 5,300 in the 2025 fiscal year and 1,200 in the 2026 fiscal year.
Nissan said it was still looking to explore new partnerships. The chairman of iPhone assembler Foxconn (2317.TW), Young Liu, said on Wednesday that the company would consider taking a stake in Nissan, according to multiple reports.
On the London market, British American Tobacco (BATS.L) was the biggest faller on the the FTSE 100 (^FTSE) on Thursday morning, with shares tumbling more than 9%.
This came after the tobacco giant flagged a £6.2bn ($7.7bn) hit for the year in its preliminary results, from a proposed settlement of a long-running lawsuit in Canada. With this provision, the company posted reported profit from operations for the year of £2.74bn.
British American Tobacco (BAT) said revenue for the year was down 5.2% to £25.9bn, which was driven by the sale of its businesses in Russia and Belarus in September 2023.
Tadeu Marroco, CEO of BAT, said the company was committed to becoming a predominantly smokeless business by 2035.
However, he also warned BAT (BATS.L) expected "significant regulatory and fiscal headwinds in Bangladesh and Australia to impact our combustibles performance" this year.
For 2025, Marroco said it expected to see around 1% revenue growth and 1.5% to 2.5% adjusted profit, as well as committing to £900m worth of share buybacks.
Russ Mould, investment director at AJ Bell (AJB.L), said: "The company has a big job on its hands to restore its existing business to a decent level of performance, never mind achieving a complete transformation of the company.
"For now, CEO Marroco is likely to be judged on getting the basics right rather than anything more ambitious."
Consumer goods company Unilever (ULVR.L) was the second biggest faller on the FTSE (^FTSE) on Thursday morning, with shares slumping 7%.
Unilever warned of a "slower start to 2025 with subdued market growth in the near term". However, it expected this to improve during the year and guided to underlying sales growth in the range of 3% to 5%.
In a blow to the UK market, Unilever also announced that it had chosen Amsterdam for the primary listing of its ice cream business, with the spin out expected to complete by the end of 2025.
As for its 2024 performance, Unilever posted underlying sales growth of 4.2%, though turnover was flat at €14.2bn (£11.83bn).
The company also raised its quarterly dividend by 6.1% to €0.45 per share and announced a €1.5bn share buyback.
Mould said: "Unilever has done a good job at increasing sales volumes, margins and cash flow, implying the business is finally getting back on top after a patchy period."
He said that Unilever's "guidance has spoilt the party and reminded investors that Unilever (ULVR.L) is still at the mercy of the global economy and consumers’ ability and willingness to splash the cash. It is guiding for prices to go up, to offset higher commodity costs, and that will test consumers’ appetite for Unilever’s brands."
Other companies in the news on Thursday 13 February:
