Reddit shares plunge 30% after company says Q3 search traffic was "down meaningfully"

TechnologyInternationalDeadlineOct 30, 2026, 1:16 PM35 s readAI summary

Reddit shares fell 30% on Friday after the company said its search referral traffic was "down meaningfully" in the third quarter. The stock, which went public in 2024, was trading around $90.20 and has fallen 60% so far in 2026. Quarterly results beat forecasts, with revenue of $895 million (+53%), but investors reacted to a softer outlook for fourth-quarter revenue and user growth.

In 35 seconds

Reddit fell 30% on Friday after warning that its search traffic was "down meaningfully" in the third quarter.
Quarterly revenue rose 53% to $895 million and earnings per share climbed to $1.40 from 80 cents.
Daily users fell 2% and the company said they could decline by a low-double-digit percentage in the fourth quarter from 130 million.

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Reddit shares plunge 30% after company says Q3 search traffic was "down meaningfully"

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Dan Driscoll, former US Army secretary, joins OpenAI as senior national security advisor

Emcali selected the consortium that will modernize more than 100,000 streetlights in Cali with LED technology

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