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2026-10-30T20:47:30.009Z

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Reddit shares tumble 29%

Reddit shares tumble 29%

Reddit shares fell 29.22% on Friday, their biggest drop since the company went public in 2024, after it forecast fourth-quarter sales of $1 billion to $1.03 billion, below analysts’ estimate of $1.05 billion. Although sales grew 53% in the third quarter and the company beat expectations for earnings and revenue, CEO Steve Huffman said Google referrals to the platform had declined significantly as AI-generated summaries became more widespread. The company plans to test requiring users to sign in to view content, aiming to increase active users and support advertising. Analysts have lowered their ratings on the stock amid concerns about traffic and user growth.

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