The social media company's one soft number is the number its advertising business leans on hardest.

CEO Steve Huffman said the company is working on what it calls "video Reddit" or "spoken Reddit," in the firm's latest earnings call, first spotted by TechCrunch. Huffman said the new project will enable users to listen to Reddit posts, as well as to listen to them in the background, presumably while changing tabs or viewing other pages.

On Friday, a judge largely denied a motion to dismiss from a web scraper, SerpApi, which is accused of conspiring with Perplexity AI to illegally scrape copyrighted Reddit content from Google search results.

Reddit's revenue climbed 61% to $804.9 million in the second quarter, comfortably beating analyst expectations. Yet shares fell more than 20% after the earnings report, as CEO Steve Huffman used

You can add Reddit CEO Steve Huffman to the growling list of publishers, platforms and others who are frustrated with the state of Google search and AI Overviews. "People don't want a summary of Reddit;

Part of the problem is that both publishers and Reddit have historically depended on regular Google search traffic, but in most cases, the current status quo treats being surfaced as one of the so-called blue links and being part of AI Overviews as a package deal.

Reddit's financial situation is looking good but uncertainty about its relationship to Google and the new AI-ified web are stirring market concerns.

Reddit, a tech company founded in 2005, debuted on the stock market amid a dormant market for IPOs.

By Jaspreet Singh July 30 (Reuters) - Reddit forecast third-quarter revenue above Wall Street estimates on Thursday, signaling its strategy to draw marketers by offering AI-powered advertising tools is paying off.

Despite Reddit delivering an objectively solid Q2, its stock cratered, in part because of search-related headwinds and low referral traffic.

Reddit has become the voice of the internet. Why the future of AI could depend on the company’s success.