Reddit’s Q2 revenue soared 61% to $805 million, net income jumped 183%, and earnings beat expectations—but the stock plunged 10% after hours. Why? CEO’s comment on “choppy” search traffic sparked investor fears about AI’s impact, especially with content licensing deals and Google’s AI summaries possibly siphoning users. While global users rose, U.S. daily active users dipped, raising questions about user retention amid shifting search trends. CEO remains bullish on Reddit’s community-driven appeal, but stays vague on future data partnerships, hinting at value-first strategy over easy answers.
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