# Reddit Shares Fall About 30% as Search Referrals Decline

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/45064
Published: 2026-10-30T19:36:46.000Z
Updated: 2026-10-30T19:36:46.000Z
Section: Investing

> Global daily active unique visitors rose 12% year over year to 130.3 million in the third quarter, while the U.S. figure fell 2%.

Reddit shares fell about 30% in Friday trading after the company disclosed that search referrals fell by more than 1 million a week in October, spotlighting a potential risk to user growth.

Reddit CEO Steve Huffman identified Google's AI Overviews and AI Mode as the main suspected drivers. He also cited possible lower rankings for machine-translated content outside the United States and said Reddit lacked visibility into a broader Google algorithm change.

Reddit had 130.3 million daily active unique visitors in the third quarter, up 12% year over year. In the U.S., the measure fell 2% to 50.7 million. Reddit warned that if October's referral decline continued, total daily active uniques could fall by a low double-digit percentage in the fourth quarter from a base of about 130 million.

Revenue rose 53% to $895 million, with advertising revenue up 54% to $847 million. Reddit forecast fourth-quarter revenue of $1 billion to $1.03 billion. The company said it would begin testing a logged-in-only experience in selected markets outside the United States during the quarter.