Reddit Shares rose 22% in extended trading on Tuesday, topping $100 for the first time, after the social media company reported third-quarter results that beat analysts’ estimates and offered upbeat forecast for for the current period.

Here’s how the company performed compared to LSEG estimates:

• Earnings per share: 16 cents versus an expected loss of 7 cents
• Revenue: $348.4 million versus expected $312.8 million

According to Reddit, fourth-quarter revenue will be between $385 million and $400 million, beating the average analyst estimate of $357.9 million. Adjusted fourth-quarter profit will be between $110 million and $125 million, above the average estimate of $85.2 million.

Revenue increased 68% year-over-year in the third quarter, and the company turned profitable, reporting a net income of $29.9 million, compared to a net loss of $7.4 million in the year-ago quarter.

The company said its daily active users rose 47% year-over-year to 97.2 million in the third quarter, better than analyst estimates of 96.5 million.

Average revenue per user was $3.58 in the third quarter, beating analyst estimates of $3.24.

“It was another strong quarter for Reddit and our communities as we achieved key milestones including new levels of user traffic, revenue growth and profitability,” Reddit CEO Steve Huffman said in a statement. “Reddit continues to be one of the most visited and trusted websites in the world, providing us with opportunities not available to most companies.”

This is Reddit’s third earnings report since the company went public in March. Based on the after-market rally, the stock has almost tripled in value since its IPO. At the end, Reddit had a market cap of $13.6 billion.

Since last year, Reddit has benefited from Google search updates that have helped its content perform better and brought a flood of new users to the 19-year-old social media service. However, the newer users, which Reddit calls logged-out users, generate less online advertising revenue for the company than logged-in users, who typically spend more time on the platform, Reddit detailed in its financial filings.

Reddit is trying to encourage logged-out users to sign up for the service and make it easier for them to do so, Huffman told CNBC in August. He also said that Reddit’s direct traffic is “really resilient” to any changes to Google Search.

The company said the number of global users logged out increased 70% year-on-year to 53.1 million, while the number of global users logged in increased 27% to 44.1 million.

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