BuzzFeed reports Q3 EPS 5c vs. (33c) last year

Reports Q3 revenue $64.32M vs. $59.98M last year. Q3 revenues exceeded the company’s outlook, growing 7% year-over-year, with strong growth in two of BuzzFeed’s (BZFD) largest and highest-margin revenue streams – Affiliate Commerce and Programmatic Advertising. “In Q3, we delivered significant improvements in each of our key operating and financial measures – time spent, revenue and adjusted EBITDA – growing each year-over-year and quarter-over-quarter,” said Jonah Peretti, BuzzFeed CEO. “Commerce was a particular highlight. We delivered our most successful Prime Day ever in July, with performance that outpaced Amazon’s own Prime Day growth and contributed to Q3 affiliate commerce revenue growth of 53% year-over-year for BuzzFeed. These strong Q3 results underscore the successful execution of our strategy to stabilize the business. Refocusing the business around our most scalable, tech-driven revenue lines has propelled growth in our programmatic and affiliate revenues and positioned us to deliver consistent topline growth and expanded profitability in 2025 and beyond.”