Reddit Shares Drop 7% Amid Weaker User Growth
Reddit’s shares plummeted by 7% after the company reported weaker-than-expected user growth in the fourth quarter. CEO Steve Huffman attributed the decline to a recent Google search algorithm tweak, which affects logged-out users. Despite this, Reddit exceeded Wall Street’s earnings estimates and provided strong first-quarter guidance. The company’s daily active users rose 39% from last … Read more