Reddit shares sink on weak sales guidance and plans login requirement test as Google search traffic shrinks
What happened
Reddit shares fell 18% in extended trading on Thursday after CEO Steve Huffman warned of a user decline and said the company will move toward requiring logins for most content.
Search referrals to Reddit dropped by more than 1 million a week on average in October, he said, and he blamed Google's AI search features.
U.S. daily active users fell 2% to 50.7 million, the first such decline since Reddit went public in 2024.
Third-quarter revenue rose 53% to $895 million, above the roughly $875 million Wall Street expected, and net income climbed 74% to $283 million.
“Requiring users to log in creates another barrier to engagement, particularly for casual users”
CNA
Summary written by AI from 3 independent sources (TechCrunch, CNA, Engadget) and checked automatically against them for copied text and numbers that are not in the sources. How we work
Open on the live globe →Who reported it
- 2026-10-29 20:08 UTCTechCrunch · techcrunch.com ↗
- 2026-10-29 20:09 UTCCNA · channelnewsasia.com ↗
- 2026-10-29 20:28 UTCCNBC · cnbc.com ↗
- 2026-10-29 20:32 UTCEngadget · engadget.com ↗
- 2026-10-29 22:19 UTCThe Verge · theverge.com ↗
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