Quartr

Reddit, Inc.'s stock is up ~20% after-hours following its Q3 2024 earnings report. DAUq +47% ARPU +14% Revenue +68% *U.S +70% *International +57% Gross Profit +73% *marg 90.1% (87.3) Adj. EBITDA $94.1M *marg 27% (-3.3)

Alphabet Inc. Q3 2024 Revenue +15% *Google Search & Other +12% *YouTube Ads +12% *Google Network -2% *Google Cloud +35% *Other Bets +31% EBIT +34% *marg 32% (28) EPS +37%

This is insane. Out of every 10 people with internet access globally (excl. China), 9 are monthly active users of at least one of Meta's services. That's monthly active users, not just registered users.

Paris! We're excited to be presenting at Neudata's Data Day for Investors tomorrow and can't wait to connect with fellow attendees. Celia Ralaimihoatra and Felix Rehnquist will be there representing Quartr, ready to talk data, finance, and everything in between. Drop by, say hello, or shoot us a message if you want to meet us in Paris!

Today, Acquired dropped its longest single episode to date. A 6-hour odyssey exploring Meta. We've once again teamed up with Ben & David to create complementary visuals for the episode. Here's the first one. Visualizing Meta's revenue growth and key milestones since inception:

Agriculture equipment giant Deere & Company may appear boring at first glance. Under the hood lies a complex and fascinating entity with a rich 187-year history, leveraging cutting-edge chips, sensors, and autonomy technology. Deere & Company has grown its EPS at a 11.7% CAGR, or 38x, since 1990:

The Debit Card Network Debit card payments are a necessity in most of our lives. According to the Federal Reserve, over 100 billion debit card payments were made in 2021, compared to 51 billion for credit cards. In transaction value, debit cards processed $4.6 trillion, while credit cards hit $4.9 trillion, meaning credit transactions are about double in average value. There are two totally dominant debit card networks in the U.S., Visa with 60% of all debit transactions and Mastercard with about 25%. The fee structure is quite complex, varying by region, PIN use, card presence, number of merchant locations, and transaction volume. Nonetheless, Visa and Mastercard take a cut every time a transaction runs through their network. As Warren Buffett once said: "The best business is a royalty on the growth of others, requiring little capital itself." For a deeper understanding of Visa's moat and the debit card network, we recommend DOJ's antitrust lawsuit document on Visa which can be found on their website.

Over Deere & Company's incredible 187-year history, farming has changed beyond recognition. Buckle up. From horse-drawn plows to cutting-edge tech, this journey takes us from the dusty fields of 19th century Illinois and leads to the farms of tomorrow. Secure the upcoming issue of Edge and explore the story of Deere & Company. Link below.

Evolution Q3 2024 🃏 "We are continuing to build Evolution to capitalize on the great opportunity that online casino constitutes in the years to come." - CEO, Martin Carlesund Net revenue +15% y/y *FX-neutral +19% *Live +16% *RNG +8.5% *Asia +18% *North America +19% Adj. EBITDA +12% *Marg. 68.5% (70.4) Adj. EBIT +11% *Marg. 61.5% (63.4) Note: numbers are adjusted for the reduced earn-out liability effect ("other operating revenues").

Hermès Q3 2024 🇫🇷 Revenue growth by business line: