Reddit shares sink 28% after CEO says Google AI search "does not drive traffic," referrals down 1M+ a week

Reddit shares fell about 28% after CEO Steve Huffman said Google's AI mode "does not drive traffic," with search referrals down more than 1 million a week in October and daily users declining on the app. The company guided Q4 revenue to $1 billion-$1.03 billion after Q3 revenue rose 53%.

Detected & updated continuously · Source: Nebula