Reddit is scheduled to report second-quarter 2026 earnings after market close on July 30, as the social media company navigates uncertainty around its lucrative Google AI data-licensing agreement. The earnings call, set for 4:30 p.m. ET, arrives just eight days after Reddit stock fell 9% following reports that the company is reconsidering whether to renew its $60 million-per-year content deal with Google.
Analysts expect Reddit to report Q2 revenue of approximately $744.94 million, representing 49.1% year-over-year growth, with earnings per share of $0.99, according to consensus estimates from Zacks and Yahoo Finance. The company guided for Q2 revenue in the range of $715 million to $725 million in May, ahead of Wall Street expectations at the time.
The uncertainty surrounding the Google deal has weighed on investor sentiment ahead of the earnings report. On July 22, a Wall Street Journal report suggested Reddit may block Google’s access to its content or renegotiate the partnership as the licensing agreement approaches renewal. Google’s AI Overviews have reduced traffic to websites from search results, raising questions about the value of the deal for Reddit.
Wells Fargo warned that if Reddit walks away from the Google deal, the company could lose $500 million in AI licensing revenue and face user headwinds. However, the same analyst also forecasted that upon renewal, Reddit’s combined licensing agreements with Google and OpenAI could surge to $550 million annually, more than quadrupling the current run rate of $130 million.
Strong Q1 Results Set High Bar for Q2
Reddit’s Q2 earnings report comes on the heels of a strong first quarter. In April, Reddit reported Q1 2026 revenue of $663 million, up 69% year-over-year, and earnings per share of $1.01, both beating analyst consensus by significant margins. The company’s advertising revenue accelerated 74% in the first quarter, demonstrating the strength of its core business.
That momentum has carried into the second quarter, with analysts pointing to continued revenue growth and advertising acceleration as likely drivers of results. The earnings report will offer clarity on whether Reddit can sustain the growth trajectory that has defined its public company performance so far, despite the headwinds from the Google deal uncertainty.
Sources
- Reddit Investor Relations — Official announcement of Q2 2026 earnings release date and time (July 30, 2026, 4:30 p.m. ET)
- Zacks Investment Research — Q2 2026 analyst consensus estimates for revenue ($744.94 million, 49.1% YoY growth) and EPS ($0.99)
- CNBC — Report on July 22, 2026, that Reddit is reconsidering its $60 million-per-year Google AI content licensing deal and facing deal renewal uncertainty
- Yahoo Finance — Analyst estimates for Q2 2026 and coverage of the Google deal uncertainty impact on stock price
- Quartz — July 22, 2026, report on Reddit stock falling 9% following news of Google deal reconsideration
- Wells Fargo — Analyst forecast that non-renewal could cost Reddit $500 million in AI licensing revenue; projection that combined Google and OpenAI deals could reach $550 million annually at renewal
- CNBC — Q1 2026 earnings report (April 30, 2026): revenue of $663 million (69% YoY growth), EPS of $1.01, and advertising revenue acceleration of 74%
