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.
Steve Huffman
3 stories since 29 October 2026, newest first
31 October 2026
30 October 2026
Reddit plans to test a mandatory login requirement in selected markets outside the United States during the fourth quarter of 2026, CEO Steve Huffman said in a shareholder letter. He said the change should improve user experience, ad targeting and revenue while helping retain new users. The company said search referral traffic fell by more than 1 million per week on average in October, and warned daily active unique users could drop by a low double-digit percentage in Q4 from 130 million if the trend continues. Reddit shares fell 29 per cent on Friday, their largest single-day drop and lowest level in over a year. Reddit says it will keep licensing data to OpenAI and Google, and that logged-in users need not disclose personal identities.
29 October 2026
Reddit has started offering a new homepage with two options, For You and Following. For You mixes posts from joined communities with recommendations based on a user's interests, while Following shows only joined communities. The app opens to For You first and then returns to whichever feed the user last chose. Reddit says the change is meant to help people find relevant communities and make the platform feel more human. The company earlier this year said it would retire r/all, a feed of posts popular across the whole platform. Some users who tried the feed during initial testing have voiced frustration. Reddit's older homepage remains available through old.reddit.com and in settings.