Reddit (@Reddit) just had its most profitable quarter since going public: reve… · @pirrer · TwKit

@pirrer

Reddit (@Reddit) just had its most profitable quarter since going public: revenue +53% to $895M, net income $283M. The next day the stock closed down 29%. Two concerns: Q4 revenue guidance came in below expectations, and CEO Steve Huffman (@redditspez) said search traffic fell by more than 1M referrals per week on average in October. His hypothesis: Google's (@Google) AI Overviews and AI Mode keep the answer on Google's page. By his account, Google still crawls Reddit as hard as ever. What's shrinking is the click. Separately, Reddit plans to test a primarily logged-in experience in some markets outside the U.S. Huffman told Axios the move is not a response to changes in Google Search. Not investment advice.

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