Shares of Reddit Inc (NYSE:RDDT) and Deere & Co (NYSE:DE) are taking a hit after earnings, tumbling as investors react to their latest results.
Reddit said its user-growth numbers were affected by Google search “volatility” triggered by an algorithmic change.
Reddit shares dropped more than 6% after reporting weak user growth in the fourth quarter. Reddit CEO Steve Huffman said that the company experienced some "volatility" in user growth as a result of a Google search algorithm tweak.
Reddit (NYSE: RDDT) recently announced its Q4 earnings, reporting a profit of $0.36 per share on revenue of $428 million. This exceeded market expectations of $0.25 per share and $405 million in revenue.
Reddit Inc RDDT reported better-than-expected fourth-quarter financial results after the market close on Wednesday.
Shares of Reddit (RDDT) fell sharply following its latest quarterly earnings report. CEO Steve Huffman confirmed that a Google search algorithm change impacted the company's web traffic.
Reddit shares tumbled 13% in premarket trading on Thursday after the social media firm missed expectations for daily active unique visitors, hit by a change in Google's search algorithm.
Reddit's (NYSE:RDDT) stock tumbled 13% in after-hours trading, wiping nearly $6 billion from its valuation following a mixed fourth-quarter earnings report that fell short of investor expectations. Revenue surged 70% year-over-year to $427.7 million, beating analyst forecasts of $405.5 million.
Reddit, Inc. (NYSE:RDDT ) Q4 2024 Earnings Conference Call February 12, 2025 5:00 PM ET Company Participants Jesse Rose - Head of Investor Relations Steven Huffman - Co-Founder & Chief Executive Officer Jennifer Wong - Chief Operating Officer Andrew Vollero - Chief Financial Officer Conference Call Participants Ronald Josey - Citigroup Justin Post - Bank of America Benjamin Black - Deutsche Bank Brian Nowak - Morgan Stanley Richard Greenfield - LightShed Ken Gawrelski - Wells Fargo Eric Sheridan - Goldman Sachs Laura Martin - Needham & Company Operator Good afternoon. My name is Krista [ph] and I will be your conference operator today.
Reddit CEO Steve Huffman said the site saw "volatility" in traffic in Q4 due to Google's algorithm change. The impact shows how some users still rely on an external search engine to get answers from Reddit.
Andrew Boone, Citizens JPM analyst, joins 'Closing Bell Overtime' to talk Reddit earnings.
Reddit (RDDT) reported fourth-quarter earnings that topped analysts' estimates, but its user growth fell short, sending shares lower in extended trading Wednesday.