Reddit plans account requirement as Google traffic dwindles, shares fall on weak guidance
Social platform reports third-quarter earnings beat but weaker fourth-quarter outlook; CEO cites 'fundamental shift' in Google's role as traffic driver
Reddit shares dropped more than 15% Thursday after the company reported third-quarter earnings that beat expectations but issued a weaker-than-expected fourth-quarter revenue forecast and announced plans to require all users to create accounts to access the platform, a major change for the site long known as 'the front page of the internet.'