Ziff Davis Q3 revenue misses estimates on soft demand across segments
Ziff Davis Q3 revenue misses estimates on soft demand across segments
Overview
US digital media firm's Q3 revenue fell 5.6% yr/yr, missing analyst expectations
Adjusted EPS for Q3 beat analyst expectations
Company repurchased $92 mln of shares in Q3, $265 mln year-to-date
Outlook
Company did not provide specific financial guidance for the current or future periods
Result Drivers
SEGMENT REVENUE DECLINES - Co reported lower revenue across Technology & Shopping, Gaming & Entertainment, Health & Wellness, and Cybersecurity & Martech segments
GOODWILL AND ASSET IMPAIRMENTS - Q3 results included $29.6 mln goodwill impairment and $14.6 mln long-lived assets impairment
CHALLENGING OPERATING ENVIRONMENT - CEO cited a challenging operating environment as a factor impacting results
Company press release: ID:nBwb12Hywa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Miss | $289.30 mln | $295.32 mln (6 Analysts) |
Q3 Adjusted EPS | Beat | $1.39 | $1.25 (5 Analysts) |
Q3 Adjusted Net Income | Beat | $48.30 mln | $44.21 mln (5 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy"
Wall Street's median 12-month price target for Ziff Davis Inc is $64.00, about 12.8% above its November 4 closing price of $56.75
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago
Reuters Recommended Reads
Nov 5 - Shutterstock Q3 revenue falls 33% on weak new customer additions
Nov 3 - UK's Clarivate Q3 revenue falls 9%, misses estimates
Nov 5 - Cardlytics Q3 revenue falls on lower user activity
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Recent news on Ziff Davis
See all newsZiff Davis Inc reports results for the quarter ended September 30 - Earnings Summary
Ziff Davis Q3 revenue misses estimates on soft demand across segments
Brief: Ziff Davis Q3 Adjusted EPS USD 1.39 Vs. IBES Estimate USD 1.25
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