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BuzzFeed (BZFD) releases full-year outlook, shares lower

By Ernie Sadashige

17:32, 23 December 2021

BuzzFeed sign at company head office
BuzzFeed did not provide a total revenue forecast – Photo: Shutterstock

BuzzFeed shares are lower Thursday after the digital media company released a full-year outlook for the year ending 31 December. The guidance shows growth in advertising and commerce revenue and a decline in content revenue.

The owner of brands including BuzzFeed Entertainment, HuffPost and Tasty is forecasting “low 30s percentage growth” in ad revenue on a year-over-year basis. “Low 30s” would be double what BuzzFeed took in during 2020. Ad revenue grew 16.6% to $149.7m (£112.5m) in 2020.

Content revenue is expected to decline by a “low single-digit” percentage. Content revenue fell 20.6% to $119.8m in 2020.

Commerce and other revenue should increase by a ”high teens” percentage. Commerce and other revenue grew 34.2% to $51.8m in 2020.

BuzzFeed did not forecast total revenue.

The adjusted EBIDTA margin is forecast at 10%, matching 2020, and better than the negative 3% from 2019.


6.49 Price
-1.530% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.04


16.82 Price
+8.280% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.09


0.20 Price
-2.000% 1D Chg, %
Long position overnight fee -0.0253%
Short position overnight fee 0.0033%
Overnight fee time 22:00 (UTC)
Spread 0.005


0.30 Price
+16.930% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.0031

Complex Networks acquisition

The year-end forecast excludes CM Partners (Complex Networks). BuzzFeed closed the $300m acquisition of the global youth entertainment company on 3 December.

BuzzFeed said it sees “low 30s percentage growth” by Complex Networks, outside of related party revenue, which fell 7% to $99.8m in 2020.

Shares fall

The 2021 financial results will be the first yearly report for Buzzfeed as a public company. BuzzFeed went public on 3 December through a merger with special purpose acquisition company (SPAC) 890 5th Avenue Partners.

The stock was down 3% to $5.36 per share at 12:05 ET (UTC-5).

Shares debuted on 6 December on the Nasdaq at $10.95 and fell more than 22% by day’s end to $8.56 on news that 94% of the investors who backed BuzzFeed’s merger decided to redeem their shares at $10 per share rather than stay invested in the combined entity.

Read more: BuzzFeed (BZFD) shares fall 20% below offer price in debut

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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