Ziff Davis, Inc. ( (ZD) ) has released its Q3 earnings. Here is a breakdown of the information Ziff Davis, Inc. presented to its investors.
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Ziff Davis, Inc. is a digital media and internet company that specializes in technology, shopping, gaming, entertainment, connectivity, health and wellness, cybersecurity, and Martech, offering a diverse range of digital content and services across various sectors. In its third quarter of 2024, Ziff Davis reported a 3.7% increase in revenues to $353.6 million compared to the same period last year, despite a higher net loss of $48.6 million. Key highlights include a 9.6% rise in adjusted EBITDA to $124.7 million and a significant increase in net cash from operating activities, which rose to $106 million. The company faced a challenging quarter with an increased goodwill impairment charge of $85.3 million impacting its net income. However, positive financial metrics such as adjusted net income and free cash flow indicate robust operational efficiency. Looking ahead, Ziff Davis remains optimistic about its fiscal 2024, reaffirming revenue guidance between $1.411 billion and $1.471 billion, with expectations of continued growth in adjusted EBITDA and EPS, leveraging its financial strength for strategic acquisitions and expansion.
