๐ป Reddit $RDDT craters 13%+ โ CEO's 'choppy' search traffic comment triggers selloff despite earnings beat
Reddit absolutely crushed Q2 earnings โ revenue of $804.9M smashed the $731.8M estimate and EPS of $1.25 beat the $0.95 consensus. But the stock is getting hammered because CEO Steve Huffman flagged that search referral traffic was 'choppy' last quarter, spooking investors that Google's AI search is already eroding Reddit's user funnel. No new AI data licensing deals were announced either, and US daily active users barely missed at 53.2M vs. 54M expected. This is RDDT's biggest single-day drop since its IPO. Not financial advice. If Google AI is eating Reddit's search traffic, can AI data licensing revenue fill the gap fast enough?
โก 41 buzzing
488 views
๐ 0 subscribed