Everyone voted Reddit | Real Time Headlines

This report comes from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open keeps investors updated on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

Alphabet and Reddit exceed expectations
Google-Parents alphabetical Third-quarter profit beat expectations. The company’s revenue growth was driven by Revenue from its cloud division grew 35% Started a year ago. at the same time, Reddit turn around Third quarter profit Net profit was US$29.9 million, compared with a net loss of US$7.4 million in the same period last year. Reddit shares soared nearly 25% in extended trading on Tuesday.

European banks bathe in profits
UBS Q3 exceeds expectationsresulting in net profit attributable to shareholders of US$1.43 billion, while the LSEG poll forecast was US$667.5 million. In addition, the Bank of England Standard Chartered Bank Third-quarter net interest income and pre-tax profit exceeded expectations, A 37% increase from a year ago.

market fluctuations
Tuesday, Nasdaq Index rose 0.78% to Close at new high and S&P 500 Index increased by 0.16%, but Dow Jones Industrial Average down 0.36%. Asia Pacific market Most trading lower on Wednesday. Hong Kong Hang Seng Index It fell about 1.4%, and the CSI fell about 1.2%. The indexes were weighed down by Chinese electric vehicle stocks, which fell on news from the European Union Increase tariffs on electric vehicles in China.

Xiaomi electric car cruising speed
MilletChina’s smartphone and appliance giant, Delivered more than 20,000 SU7 electric vehicles October, the company said on Tuesday. SU7 costs approx. $4,000 cheaper than Tesla Model 3. Xiaomi’s manufacturing and delivery speed is amazing—— Xpeng Motors and Nioh It took approx. Produce 100,000 electric vehicles in six yearswhile Tesla took 12 years.

(PRO) UK budget impact on markets
UK Finance Minister Rachel Reeves will announce the country’s national budget later today. Analysts expect changes to the tax system and government borrowing, highlighting stocks and bonds that could change affected by these developments.

It’s no surprise, then, that the companies behind these services— break, Reddit and letter – Posted third-quarter results that beat Wall Street expectations.

Their revenue is a particular highlight. In the third quarter, Alphabet’s advertising revenue grew 10.4% compared with the same period last year. While Snap and Reddit don’t specifically report their ad revenue, there are signs both companies are doing well in that area as well.

CEO Evan Spiegel said Snap’s total number of active advertisers more than doubled compared with the same period last year. This is related to Global daily active users increased by 2 million Better than expected. More advertisers and more eyeballs means more revenue per ad.

Reddit, meanwhile, swung from a loss a year ago to a profit. This remarkable turnaround was driven in part by a 47% year-over-year increase in daily active users and better-than-expected average revenue per user.

All companies report earnings after the bell. In after-hours trading, Reddit shares surged nearly 25%, Snap shares soared about 10.6%, and Alphabet shares rose 5.8%.

it is Yuan and Microsoft’s Earnings will be reported later today. Microsoft isn’t really involved in the advertising market because it’s more focused on enterprise products. But investors will be watching to see if Meta can keep up with the positive trend so far.

Judging from the time I spend on Meta-owned Instagram and the ads I see, it seems like the ads know exactly what I want, and the company will likely see healthy growth in its ad revenue.

—CNBC’s Julia Boorstin, Jonathan Vanian and Jennifer Elias contributed to this report.

NOTE: The CNBC Daily Open will be closed on Thursday, October 31 due to a Singapore public holiday. Regular programming will resume on Friday.