Reddit shares fell sharply on Friday, the steepest single-day drop on record, after the company warned that Google's AI-driven search was reducing traffic to its site. The company said its daily active unique visitors could fall by a low double-digit percentage in the fourth quarter if referral traffic keeps weakening. Reddit reported third-quarter earnings per share of $1.40 against $1.35 expected and revenue of $895 million against $878 million expected. Analysts said the company's market value could lose more than $7 billion if current losses continue.
Amazon Web Services
3 stories since 29 October 2026, newest first
31 October 2026
29 October 2026
Microsoft announced a reduction of its full‑year capital expenditure target to $170 billion, down from $175 billion, while reporting $18.6 billion in free cash flow that beat expectations. Alphabet disclosed a negative free cash flow of over $9 billion for the third quarter, causing its shares to tumble between 8% and 10% in after‑hours trading. In the same period, Azure revenue grew 48% and Google Cloud revenue topped $30 billion, surpassing forecasts. Both firms face AI‑related spending pressures, with Alphabet revealing $98.5 billion in contingent AI commitments.
Microsoft says Azure generated $33.2 billion in the July‑September quarter, a 48% increase from a year earlier and about $850 million above analysts’ expectations. The cloud service represented roughly 36% of Microsoft’s total quarterly revenue of $92.3 billion, keeping it ahead of Google Cloud, which reported $30.7 billion for the same period.