BuzzFeed (NASDAQ:BZFD) Releases Earnings Results, Misses Estimates By $0.05 EPS

Key Points

• BuzzFeed reported an earnings per share of ($0.28), falling short of the estimated ($0.23) by ($0.05).
• The company achieved $46.39 million in revenue for the quarter, surpassing the consensus estimate of $39.43 million.
• Major shareholder John S. Johnson III sold 50,000 shares at an average price of $2.45, marking a 4.58% decrease in his position.

BuzzFeed (NASDAQ:BZFD - Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.05), Zacks reports. BuzzFeed had a negative return on equity of 27.46% and a net margin of 4.75%. The company had revenue of $46.39 million during the quarter, compared to the consensus estimate of $39.43 million. BuzzFeed updated its FY 2025 guidance to EPS.

BuzzFeed Stock Performance

BZFD traded down $0.03 during trading on Friday, reaching $2.03. 688,911 shares of the company's stock were exchanged, compared to its average volume of 312,448. The company's fifty day moving average price is $2.16 and its 200-day moving average price is $2.12. BuzzFeed has a fifty-two week low of $1.61 and a fifty-two week high of $5.68. The firm has a market capitalization of $78.22 million, a PE ratio of 8.12 and a beta of 3.46.

Wall Street Analyst Weigh In

Separately, Craig Hallum raised shares of BuzzFeed to a "strong-buy" rating in a report on Tuesday, June 10th.

Insiders Place Their Bets

In other news, major shareholder John S. Johnson III sold 50,000 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $2.45, for a total value of $122,500.00. Following the completion of the transaction, the insider owned 1,041,195 shares of the company's stock, valued at $2,550,927.75. The trade was a 4.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janet L. Rolle sold 24,474 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $2.11, for a total transaction of $51,640.14. Following the completion of the transaction, the director directly owned 122,223 shares of the company's stock, valued at $257,890.53. This trade represents a 16.68% decrease in their position. The disclosure for this sale can be found here. 19.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BuzzFeed

An institutional investor recently raised its position in BuzzFeed stock. Bank of America Corp DE grew its position in BuzzFeed, Inc. (NASDAQ:BZFD - Free Report) by 1,615.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,136 shares of the company's stock after buying an additional 13,312 shares during the period. Bank of America Corp DE's holdings in BuzzFeed were worth $38,000 at the end of the most recent quarter. Institutional investors and hedge funds own 37.64% of the company's stock.

BuzzFeed Company Profile

BuzzFeed, Inc, a digital media company, distributes content across owned and operated, as well as third-party platforms. The company offers BuzzFeed, a go-to authority for entertainment, pop culture, and Internet with articles, lists, quizzes, videos, and original series; BuzzFeed News, a pocket friendly newsroom; Tasty, a platform for food content; HuffPost, media platform for news, politics, opinion, entertainment, features, and lifestyle content.

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