Reddit's Search Conundrum Highlights Broader Industry Woes Reddit's recent earnings report has sent shockwaves through Wall Street, despite beating estimates on both revenue and earnings per share.
The company's shares sank 11% in after hours trading due to concerns about its reliance on Google search referrals.
On the surface, Reddit's second quarter performance appears robust, with sales rising 61% year over year and net income climbing to $253 million from $89 million.