Reddit Shares Drop by More Than 15% Amid User Growth Concerns Despite Strong Earnings – The Impact of Google Algorithm Changes
Reddit shares fell more than 15% on Wednesday following the company’s release of its fourth-quarter earnings, which revealed weaker-than-expected user numbers despite exceeding revenue and profit estimates. Earnings Performance vs. Estimates Reddit’s results compared with LSEG estimates were as follows: Earnings per share: $0.36 (exceeding the expected $0.25) Revenue: $428...