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 stock sank 11% after the company said in an investor letter that “search referrals were choppy,” underscoring investor concerns about Reddit’s reliance on Google to land new users.
Here’s how the company did compared with LSEG estimates:
Earnings per share: $1.25 vs. 95 cents expected
Revenue: $805 million vs. $730 million expected
Sales for the second quarter rose 61% year-over-year from $500 million a year earlier, the company said in a statement. Net income climbed to $253 million, or $1.25 a share, from $89 million, or 45 cents per share, the previous year.
Third-quarter revenue should come in between $860 million to $870 million, the company said, while analysts were expecting $828 million. Reddit said adjusted earnings this quarter will be between $385 million and $395 million, topping Wall Street projections of $368 million.
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https://www.cnbc.com/2026/07/30/reddit-rddt-q2-2026-earnings-report.html