CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 75-95% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

BuzzFeed Q3 revenue drops; co defers FY guidance as it restructures expenses after workforce reduction

By Reuters News


Overview

  • Digital media firm's Q3 revenue fell 44% yr/yr

  • Company posted net loss and negative adjusted EBITDA for the quarter

  • Company cut workforce by 35% in July restructuring, targeting $30 mln in annualized savings


Outlook

  • BuzzFeed is deferring its full-year 2026 financial outlook

  • Company aims to expand content distribution across digital platforms and connected TV in Q4

  • Company expects about $30 mln in annualized savings from July restructuring


Result Drivers

  • RESTRUCTURING COSTS - Co said July workforce reduction led to restructuring expenses in Q3, with expected future savings

  • TRAFFIC SOURCES SHIFT - Co said increased share of direct visits and internal referrals reduced reliance on external platforms


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$26.03 mln

Q3 Net Loss

$18.66 mln

Q3 Adjusted EBITDA

-$4.76 mln

Q3 Income From Operations

-$17.46 mln

Q3 Pretax Loss

$18.37 mln


Analyst Coverage

  • Wall Street's median 12-month price target for BuzzFeed, Inc. is $1.00, about 8.6% above its November 4 closing price of $0.92


Reuters Recommended Reads

  • Nov 3 - Chegg Q3 revenue falls as legacy business declines

  • Nov 3 - Comscore Q3 revenue falls after Movies business sale

  • Nov 4 - ZoomInfo Q3 revenue falls 3%


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.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.