ZipRecruiter Q2 revenue rises 5%, beats analyst estimates
ZipRecruiter Q2 revenue rises 5%, beats analyst estimates
Overview
Online employment marketplace's Q2 revenue grew 5% yr/yr, beating analyst expectations
Q2 adjusted EBITDA beat analyst expectations
Company repurchased $294.6 mln of senior notes at a $65 mln discount, reducing debt burden
Outlook
ZipRecruiter expects continued revenue growth in the third qtr
Company sees year-over-year margin expansion in the third qtr
ZipRecruiter says it is leveraging AI to improve hiring experience
Result Drivers
AI MATCHMAKING - Co said leveraging AI improved active matchmaking and hiring experience for employers and job seekers, per CEO Ian Siegel
DEBT REPURCHASE - Co repurchased $294.6 mln of senior unsecured notes at a $65 mln discount, reducing debt burden and preserving cash
Company press release: ID:nBw3yx7Wxa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $118.10 mln | $112.47 mln (5 Analysts) |
Q2 Net Income |
| $43.40 mln |
|
Q2 Adjusted EBITDA | Beat | $14.60 mln | $13.72 mln (5 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the employment services peer group is "buy."
Wall Street's median 12-month price target for Ziprecruiter Inc is $4.00, about 10.9% below its August 4 closing price of $4.49
Reuters Recommended Reads
Aug 4 - TrueBlue Q2 adjusted EPS beats estimates as on-demand business returns to growth
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Aug 2 - UK hiring falls but demand for AI skills jumps, job site Indeed says
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 ZipRecruiter
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ZipRecruiter Q2 revenue rises 5%, beats analyst estimates
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