Reddit (RDDT) shares fell 29.2% on October 30, 2026, the first session after its fiscal Q3 2026 report, while the S&P 500 lost 1.8%. Revenue of $895 million came in about 2% above analyst expectations, but the drop followed management's warning that daily users could fall by a low double-digit percentage in fiscal Q4 from a base of 130 million, as search referral traffic declined. Revenue growth slowed from 69.1% in fiscal Q1 2026 to 53.0% in fiscal Q3, and guidance of $1 billion to $1.03 billion (38% to 42% growth) was reported as below expectations. Operating margin reached 29.2% versus 23.7% a year earlier, and management said about 80% of monetization comes from logged-in app users. The article says daily users will be the key figure to watch when Reddit reports fiscal Q4 2026 results in February 2027.
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