Reddit shares crash 29% after weak Q4 outlook, Google search traffic concerns; set for worst-ever 1-day fall
60-Word AI Digest
Reddit shares plunged 29% after the company warned that weakening Google Search referrals could drive a low double-digit decline in daily users during Q4. Its revenue forecast missed expectations, overshadowing third-quarter results that beat estimates, with revenue up 53% year over year.
Key Takeaways
- Reddit shares plunged 29% after the company warned that weakening Google Search referrals could drive a low double-digit decline in daily users during Q4.
- Its revenue forecast missed expectations, overshadowing third-quarter results that beat estimates, with revenue up 53% year over year.
- Full details and original dispatch available below.
Reddit shares plunged 29% after the company warned that weakening Google Search referrals could drive a low double-digit decline in daily users during Q4. Its revenue forecast missed expectations, overshadowing third-quarter results that beat estimates, with revenue up 53% year over year.
Original Publisher Attribution
This summary was curated from Livemint.