BuzzFeed jumps on smaller Q2 loss, chance of return to rev growth

BuzzFeed

13/08/2024 10:10

** BuzzFeed  BZFD.O  shares jump 14.7% to $2.57 premarket
    ** Digital media firm reports smaller Q2 loss, although
revenue drops 24%
    ** Co's forecast implies rev could increase for first time
in eight quarters
    ** BZFD sees Q3 rev ranging from a 3% drop to 5% growth
    ** CEO Jonah Peretti says beginning to see benefits from
investments in tech platforms to boost AI products development
    ** Up to last close, BZFD stock had risen 124% this year
    ** The Nasdaq  .IXIC  has risen about 12% in that time

 (Reporting by Nikhil Sharma in Bengaluru)
 ((Nikhil.Sharma@thomsonreuters.com))