Shares of Nextdoor Holdings Inc (KIND) rallied over 5% on Wednesday morning, following the release of the company's Q3 2024 earnings results which exceeded analysts' expectations.
The social networking platform reported an adjusted loss of $0.04 per share for the quarter ended September 30th, narrower than the consensus estimate of a $0.05 loss. Revenue grew 17% year-over-year to $65.61 million, surpassing Wall Street's projection of $62.44 million.
Despite the narrower loss and revenue beat, Nextdoor Holdings still posted a net quarterly loss of $14.9 million. However, investors appeared to focus on the better-than-anticipated financial performance, driving the stock higher in early trading.
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