Strong Revenue and EBITDA Growth
Second quarter revenues grew nearly 10% year-over-year, with adjusted EBITDA increasing by nearly 12%, marking the company's strongest quarter of revenue growth since 2021.
Segment Performance
Four out of five segments grew in revenues, with the Digital Media segment growing nearly 13%. Health & Wellness and Connectivity segments posted significant growth in revenues and adjusted EBITDA.
Gaming & Entertainment Success
The Gaming & Entertainment segment grew nearly 8% in revenues, with adjusted EBITDA growth of almost 24%. IGN Live reached over 300 million fans, up 91% year-over-year.
Health & Wellness Achievements
Health & Wellness revenues were up nearly 16%, with adjusted EBITDA up 11%. Successful initiatives included the launch of a clinical studies business and strong performance from the Lose It! app.
Connectivity Segment Growth
Connectivity posted a 14% revenue increase and a 12% rise in adjusted EBITDA, driven by demand for Speedtest and RootMetrics services, as well as expansion in emerging markets.
Successful Share Buybacks
Since June 30, 2024, Ziff Davis repurchased more than 4 million shares, representing approximately 10% of the company's outstanding shares.