CNBC reported that Reddit shares fell 29.22 percent on Friday, October 30, their worst day since the 2024 listing. Fourth-quarter sales were forecast at $1 billion to $1.03 billion, under a $1.05 billion analyst estimate. Third-quarter sales still rose 53 percent, and the quarter beat expectations on earnings and revenue. Chief executive Steve Huffman said Google search referrals fell meaningfully because of AI overviews. Reddit will test requiring a login, ending the open access he had defended, because logged-in users are more valuable to advertisers.
Several analysts downgraded the stock after that outlook. The test may change who can read a post without an account. It was not announced as a fee, and no subscription price was published.
Does the login test change what a Reddit user pays? No fee was announced. The October 30 facts are a weaker sales forecast and a planned login test after Google referrals dropped.