Reddit (RDDT) stock soared in Wednesday’s session, up more than 40% at last check, after the social media platform beat revenue and bottom line expectations for its third quarter and issued a strong outlook for the fourth quarter.

During the quarter ended September 30Reddit revenue grew 67.9% year-over-year to $348.4 million, driven by a 47.3% increase in daily unique assets to an all-time high of 97.2 million and a 14% increase in average income per single to $3.58. RDDT defines Daily Active Uniques as users that the company “can identify with a unique identifier who have visited a Reddit website page or opened a Reddit application at least once in a 24-hour period.”