Reddit shares plunged 30.44% to $90.15 on Friday, extending the weekly decline to 44%, after CEO Steve Huffman said Google search referrals dropped by more than 1 million a week in October, which he attributed to Google's AI features. Although third-quarter revenue rose 53% to $895 million, Reddit forecast fourth-quarter revenue of $1 billion to $1.03 billion, below the roughly $1.05 billion analysts expected. Daily active unique visitors reached 130.3 million, but U.S. users fell 2% to 50.7 million, and the company warned daily active users could drop by a low double-digit percentage in Q4 if the trend continues. To reduce its reliance on Google, Reddit plans to test requiring users to log in in selected markets outside the U.S. during the fourth quarter.
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RedditGOOGLartificial intelligenceearnings
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• NeutralAlphabet Inc. (Class A)
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/29/2026 | 283.75 |
| Change that session | -12.66% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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