Welcome to our dedicated page for BuzzFeed news (Ticker: BZFD), a resource for investors and traders seeking the latest updates and insights on BuzzFeed stock.
BuzzFeed, Inc. (BZFD) is an international news and entertainment company that attracts over 200 million unique visitors monthly. As a tech-powered, diversified media company, BuzzFeed reaches hundreds of millions globally through its cross-platform news and entertainment network. The company produces a wide range of engaging content, including articles, lists, quizzes, videos, and original series.
Under its various brands, BuzzFeed generates lifestyle content via Tasty, a leading social food network, and delivers original reporting and investigative journalism through BuzzFeed News and HuffPost. Additionally, BuzzFeed Commerce focuses on strategic partnerships, licensing, and product development, further expanding the company's reach and influence.
BuzzFeed Studios is responsible for creating original productions across multiple platforms, including broadcast, cable, SVOD, film, and digital. These diverse and dynamic offerings make BuzzFeed a prominent player in the digital media landscape.
BuzzFeed continues to innovate and adapt to the evolving media landscape, maintaining a strong financial condition through its varied revenue streams and strategic initiatives. The company's ability to produce content that resonates with a global audience ensures its ongoing relevance and growth potential.
With a commitment to producing shareable and impactful content, BuzzFeed has cemented its position as a key player in both the news and entertainment sectors, continually attracting a broad audience and forming valuable partnerships.
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BuzzFeed Inc (Nasdaq: BZFD) reported improved Q2 2024 financial results, with net loss from continuing operations decreasing and Adjusted EBITDA surpassing the company's outlook. Key highlights include:
- Programmatic advertising revenues grew 3% year-over-year to $16.0 million
- Affiliate commerce revenues increased 9% year-over-year to $10.4 million
- Overall revenues were $46.9 million, down 24% compared to Q2 2023
- Net loss from continuing operations was $(6.5) million, improved from $(22.5) million in Q2 2023
- Adjusted EBITDA was $2.7 million, compared to a loss of $(2.2) million in Q2 2023
BuzzFeed was the only digital media company in its competitive set to grow audience time spent in Q2 versus Q1, according to Comscore. The company expects Q3 2024 revenues between $58-63 million and Adjusted EBITDA of $6-11 million.
BuzzFeed (NASDAQ: BZFD) will release its second quarter 2024 financial results on Monday, August 12, 2024, after market close. Founder and CEO Jonah Peretti, alongside CFO Matt Omer, will host a conference call at 5:00 PM ET to discuss the results. The call will be accessible via webcast on BuzzFeed's investor relations website under the News & Events section, with a replay available post-event. To join the conference call, participants must pre-register.
BuzzFeed (Nasdaq: BZFD) has announced a new compensation model aimed at driving value creation. CEO Jonah Peretti is shifting to a majority stock-based compensation package, reducing his cash-based pay. Senior executives will also receive stock incentives at the current strike price, aligning their interests with shareholders. Peretti believes this approach mirrors a startup mentality, important during technological inflection points. As BuzzFeed enters the GenAI era, the company expects significant value creation in the upcoming years, leveraging early AI adoption benefits. Further details are available in the Form 8-K filed with the SEC.
BuzzFeed (Nasdaq: BZFD) announced its first quarter 2024 financial results, aligning with its March outlook. Revenue fell to $44.8 million, an 18% year-over-year decline, with advertising and content revenues down 22% and 19% respectively. The net loss from continuing operations improved slightly to $26.6 million from $29.4 million in Q1 2023, while adjusted EBITDA loss saw a $7 million improvement to $11.3 million. Despite these financial declines, direct traffic to BuzzFeed's owned properties increased by 3% compared to Q4, and engagement among loyal users deepened. BuzzFeed's programmatic advertising revenue grew for the third consecutive quarter, and the introduction of the AI Content Generator showed significant user engagement. Second quarter 2024 revenue is projected to be between $44 and $49 million, a 21% to 30% year-over-year decline, with adjusted EBITDA ranging from a $4 million loss to a $1 million gain.
BuzzFeed, Inc. announced a 1-for-4 reverse stock split of its Class A and Class B common stock to ensure continued listing on Nasdaq. The split will be effective on May 6, 2024, to increase the bid price of the company's common stock. The reverse split will not change the total authorized number of shares but will reduce outstanding shares significantly. Additional adjustments will be made to warrants, options, and other stock-related instruments.
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