Reddit shares sink 11% on 'choppy' search referrals even as results blow past estimates
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Source: CNBC
Published: 2026-07-31 06:09 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Technology & AI, Financial Markets
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Snippet:
Reddit reported second-quarter earnings on Thursday that beat on the top and the bottom lines, and the company issued guidance that sailed past expectations. But the company's shares sank after it revealed in an investor letter that "Search referrals were choppy," underscoring investor concerns about Reddit's reliance on Google to land new users.
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