Reddit to require logins as Google search referrals shrink and guidance disappoints
AIReddit plans to require all users to create accounts, a change CEO Steve Huffman tied to shrinking search-referral traffic from Google. Reddit beat third-quarter estimates on EPS ($1.40 vs. $1.35) and revenue ($895 million vs. $878 million), but its fourth-quarter guidance of $1 billion to $1.03 billion fell below expectations, and shares dropped over 11%.
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CNBC · Technology · cnbc.comPublished
Original title: Reddit shares sink on weak sales guidance and plans login requirement test as Google search traffic shrinks