Steve Huffman, co-founder and CEO of Reddit, speaks during the WSJ Tech Live conference hosted by The Wall Street Journal at the Montage Laguna Beach in Laguna Beach, California, on Oct. 21, 2024.

Frederic J. Brown | Afp | Getty Images

Reddit plans to require all users to create official accounts to access the social media platform, marking a major departure for the site known as "the front page of the internet."

The company revealed the change Thursday as part of its third-quarter earnings, in which it beat on the top and bottom lines, but provided weak fourth-quarter sales guidance. The company's shares dropped over 15% after its numbers were released.

Here's how the company did compared with LSEG estimates:

Earnings per share: $1.40 vs. $1.35 expected

Revenue: $895 million vs.…