Ziff Davis Q2 revenue misses estimates on segment weakness

Overview

• US digital media firm's Q2 revenue fell 2.7% yr/yr, missing analyst expectations

• Adjusted EPS for Q2 met analyst expectations

• Company completed sale of Connectivity division for $1.2 bln and repurchased $121.5 mln of shares

Outlook

• Company did not provide specific financial guidance for the current or future periods

Result Drivers

• SEGMENT SOFTNESS - Revenue fell in Technology & Shopping and Health & Wellness segments, contributing to overall decline

• GOODWILL IMPAIRMENT - Co recognized $54.8 mln goodwill impairment in Q2, contributing to operating loss

Company press release: ID:nBw5BnCdda

Key Details

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(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.)