Reddit Q2 revenues $805 million net income $253 million but shares drop
Business
Reddit just posted some impressive numbers for the second quarter of 2026: revenues jumped 61% to $805 million, and net income soared 183% to $253 million.
Even with a strong outlook for the next quarter, Reddit's stock dropped more than 10% after hours, surprising many.
Reddit CEO Huffman cites AI volatility
CEO Steve Huffman pointed to "choppy" search engine referrals and unpredictable traffic, thanks to new AI-driven algorithms.
Their partnership with Google for AI data is under scrutiny as it affects how people find Reddit.
While global users grew, US daily active users slipped slightly (from 53.5 million to 53.2 million), making investors nervous about future growth.