Reddit posts 61% revenue surge, shares dip 10% on traffic volatility
Reddit reported second‑quarter 2026 revenue of $805 million, a 61 % year‑over‑year increase that beat analysts’ expectations of roughly $730 million. Net income jumped 185 % to $283 million, delivering earnings of $1.25 per share, while adjusted EBITDA reached $343 million and free cash flow rose 135 % to $261 million.
Daily active users grew 18 % to 130.3 million and weekly active unique visitors climbed 24 % to 514.6 million. CEO Steve Huffman warned that traffic was volatile in the latter part of the quarter and that search referrals were “choppy,” a concern that contributed to the stock falling about 10 % in overnight trading after the results were released.
Reddit projected third‑quarter revenue of $860‑$870 million, well above the $828 million consensus, and adjusted earnings of $385‑$395 million, also topping forecasts. The company attributed part of its growth to AI‑driven advertising tools, noting a roughly 70 % rise in advertisers and partnerships with Google and OpenAI that help deliver targeted ads and integrate Reddit content into AI models.
Entities: Barry Gosin · Jen Wong · Markel Corporation · Markel Insurance Group · Nephila Capital · Newmark Group · Newmark Group Inc. · Reddit Inc. · Steve Huffman · Tom Gayner
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [○ 1 SOURCE] Wall Street forecast adjusted earnings of $0.38 per share for Q2 2026. (analyst consensus)
- [○ 1 SOURCE] Newmark is the No. 1 investment‑sales platform in affordable housing. (CEO Barry Gosin statement)
- [○ 1 SOURCE] Newmark reported adjusted earnings of $0.39 per share for Q2 2026. (Newmark earnings report)
- [○ 1 SOURCE] Total debt volumes for the first half of 2026 were up 26.7 % versus the first half of 2025. (Newmark earnings report)
- [○ 1 SOURCE] Leasing fees increased 17.2 % to $278 million in Q2 2026. (Newmark earnings report)
- [○ 1 SOURCE] Multifamily investment sales activity increased, especially for senior and affordable housing assets. (Newmark earnings call)
- [○ 1 SOURCE] Capital markets revenue rose 16 % in Q2 2026. (Newmark earnings report)
- [○ 1 SOURCE] Newmark revenue for Q2 2026 was $884 million, up 17 % year‑on‑year. (Newmark earnings report)
- [○ 1 SOURCE] Markel's adjusted operating income rose 40% to $376.5 million in Q2 2026. (Markel)
- [○ 1 SOURCE] Markel's underwriting profit more than doubled to $142.1 million in Q2 2026. (Markel)
- [○ 1 SOURCE] Newmark's revenue for Q2 2026 was $884 million, up 17% year‑on‑year. (Newmark)
- [○ 1 SOURCE] Newmark's multifamily investment sales activity increased, especially for senior and affordable housing assets. (Newmark)