Reddit plans to require everyone using the platform to have an account, CNBC reports, as the company blames shrinking referral traffic from Google for the change.
The plan was announced alongside third-quarter results that beat expectations, with revenue of $895 million and earnings of $1.40 per share. But weak sales guidance for the fourth quarter sent the shares down by more than 15 per cent.
Chief executive Steve Huffman told CNBC that Google's push into AI overviews and chat features marked a fundamental shift away from sending visitors to other websites. He gave no date for the account requirement, which will first be tested outside the US in the fourth quarter. Daily active users rose 12 per cent to 130.3 million, short of forecasts, while US users fell 2 per cent to 50.7 million.
Source: CNBC
