Reddit财报后暴跌次日反弹近10%但AI搜索流量风险仍在

Reddit, Inc. (RDDT) shares advanced almost 10% on Monday, rebounding after a nearly 21% plunge the previous session, which followed the company's Q2 earnings report. The social media platform's stock closed at $154.71, climbing $14.04 on the session.
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The previous session's steep decline came after Reddit posted nominally strong Q2 results, but still saw its shares slump on concerns about AI-search-related traffic risk.
Revenue for the second quarter grew 61% year-over-year to $805 million, beating the $731.8 million consensus estimate. GAAP EPS came in at $1.25, a $0.29 beat. Adjusted EBITDA more than doubled to $343 million. Advertising revenue rose 64% to $762 million, while "Other Revenue," which includes AI licensing, reached $43 million, up 24% year-over-year. The quarter marked Reddit's eighth consecutive period of over 60% revenue growth, and the company crossed $1 million in revenue per employee.
CEO Steve Huffman acknowledged that "search referrals were choppy in the quarter" and flagged continued volatility ahead, while reaffirming "no change in strategy" on data licensing. A Wall Street Journal report noting that Reddit was weighing changes to Google's data access remained a lingering overhang on sentiment.
For Q3 2026, Reddit forecast revenue of $860 million to $870 million, implying 47% to 49% year-over-year growth, with adjusted EBITDA of $385 million to $395 million, representing a 45% margin at the midpoint.
Monday's bounce followed one of RDDT's sharpest single-session drops in recent memory. The daily returns table below shows the stock's volatile trading pattern over the past several sessions, with the July 31 post-earnings selloff punctuating an already choppy month.
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Sentiment across recent Seeking Alpha community comments is mixed-to-bullish, with several users viewing the post-earnings drop as a buying opportunity while others raise concerns about content quality and AI disruption risk.