BuzzFeed Q2 net loss narrows to $6.5M; Adj EBITDA turns positive at $2.7M

BuzzFeed, Inc.

2024-Q2 EPS reported -$1.17 revenue$91,687,000

Revenue $46.9M, down 24% YoY; net loss from continuing ops improved to $(6.5)M from $(22.5)M.
Adjusted EBITDA turned positive at $2.7M, beating Company's outlook; year-over-year improvement of ~$5M.
Programmatic advertising revenue grew 3% YoY to $16.0M; affiliate commerce revenue grew 9% to $10.4M.
Content revenue declined 48% YoY to $11.4M, advertising overall down 19%.
Management expects continued improvement in Q3; cites AI investments driving deeper engagement.

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