Reddit Q2 earnings report highlights concerns about AI search summaries reducing platform traffic
Other Provisional 85% confidence first seen
Reddit reported strong Q2 financial results with 61% revenue growth but noted declining search referrals and slightly lower daily active users, which the company attributed to AI-powered search summaries from competitors like Google diverting traffic. CEO Steve Huffman criticized Google's AI Overviews feature during the earnings call, questioning its value to publishers and indicating Reddit may end its $60 million licensing deal with Google amid concerns that AI summaries reduce referrals to content sites by approximately 50 percent.