Ziff Davis Q3 revenue flat, GAAP net loss $31M on $56.9M goodwill impairment; reaffirms FY2023 guidance

ZIFF DAVIS, INC.

2023-Q3 EPS reported -$0.47 revenue$974,143,000

Q3 revenue $341.0M (-0.3% YoY); Digital Media +1.6%, Cybersecurity/Martech -6.5%.
GAAP net loss $31.0M vs net income $18.2M, driven by $56.9M goodwill impairment.
Adjusted EBITDA $113.7M (-5.3%), adjusted diluted EPS $1.50 (-5.1%).
Free cash flow $45.6M (-38.2%); ended quarter with $830.6M cash.
Reaffirmed FY2023 guidance; CEO cites Digital Media returning to positive organic growth.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

ZIFF DAVIS, INC. reported third quarter ended September 30, 2023 results: revenue $341.0 million, net income $(31.0) million, EPS $(0.67). Guidance reaffirmed.

Period: third quarter ended September 30, 2023
Revenue: $341.0 million
Net income: $(31.0) million
EPS: $(0.67)
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

Officer of Ziff Davis. “We’re also making solid progress on AI enablement across our portfolio." THIRD QUARTER 2023 RESULTS • Q3 2023 quarterly revenues decreased 0.3% to $341.0 million compared to $341.9 million for Q3 2022. • (Loss) income from operations decreased 145.9% to $(13.3) million compared to $29.0 million for Q3 2022 primarily due to the recognition

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Source: SEC EDGAR

accession 0001084048-23-000078

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