Reddit shares tumble on weak guidance despite earnings beat

What happened: Reddit beat third-quarter estimates but guided fourth-quarter revenue below consensus and warned of accelerating declines in search referral traffic. Shares fell 8.5%. Key numbers: Adjusted EPS $1.40 vs $1.33 expected. Revenue $895 million, up 53%, vs $874.9 million expected. Why it matters: Reddit warned daily active uniques could decline by a low-double-digit percentage in the fourth quarter if the search traffic trend continues. Management is focusing on logged-in and app audiences, which account for more than 80% of monetization. Market: -12.6% today ($283.82), -9.8% YTD, 5.3x vol — as of 23:45 UTC Verified: Q3_2026 (Oct 28) EPS $2.12 vs $3.00 est, -29.4% miss; next print ~Jan 27 Coverage: 3 outlets in 24h

Reddit shares fell on weak guidance despite an earnings beat.

Reddit shares fell on weak guidance despite an earnings beat. — impact context not separately stored; see What changed.