Buzzfeed Inc Down 3.94% To $0.39 After Earnings Beat

Buzzfeed Inc (BZFD) beat out earnings estimates for Q4 2023 this afternoon.

Buzzfeed Inc's earnings came in at an EPS of $0.03 per share. The firm's earnings are up 250% since reporting losses of $0.02 per share in the same period a year ago.

Analyst projections for Buzzfeed Inc revenue came in at a consensus of $104.6 million. Fourth-Quarter revenues missed estimates for $75.7 million by $28.9 million (28%). The company achieved negative 44% growth year-over-year compared to the firm's revenue of $134.6 million from the year-ago quarter. The higher earnings growth relative to revenue signals Buzzfeed Inc has improved its profit margin.

The stock is down 3.94% to $0.39 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 55. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

BuzzFeed Inc is a tech-powered, diversified media company that reaches hundreds of millions globally through its cross-platform news and entertainment network. The company produces articles, lists, quizzes, videos, and original series; lifestyle content through brands including Tasty, the world's largest social food network; original reporting and investigative journalism through BuzzFeed News and HuffPost; an industry- leading affiliate business, strategic partnerships, licensing and product development through BuzzFeed Commerce; and original productions across broadcast, cable, SVOD, film and digital platforms for BuzzFeed Studios.