BuzzFeed Q3 revenue down 29% to $73.3M; adjusted EBITDA turns positive at $3.1M

BuzzFeed, Inc.

2023-Q3 EPS reported -$0.54 revenue$218,353,000

Advertising revenue fell 35% YoY to $32.6M; content revenue down 32% to $26.2M.
Net loss improved to $13.9M from $27.0M loss in Q3 2022; cash and equivalents $42M.
Time Spent declined 19% YoY to 92 million hours.
Q4 2024 guidance: revenue $99-110M, Adjusted EBITDA $20-30M.
CEO cites strategic changes to reduce platform dependence and improve monetization.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BuzzFeed, Inc. reported the third quarter ended September 30, 2023 results: revenue $73.3 million, net income $13.9 million.

Period: the third quarter ended September 30, 2023
Revenue: $73.3 million
Net income: $13.9 million
Result: reported results

Exact text from the filing

as we work toward building a sustainable long-term model for content creation.” Third Quarter 2023 Financial and Operational Highlights ● BuzzFeed delivered Q3 revenues of $73.3 million, declining 29% compared to the third quarter of 2022 ○ Advertising revenue declined 35% year-over-year to $32.6 million ○ Content revenue declined 32% year-over-year to $26.2

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Source: SEC EDGAR

accession 0001828972-23-000187

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