BuzzFeed, Inc. (BZFD) Earnings
BuzzFeed, Inc. is expected to report next earnings on November 18, 2026 (in NaN days), with a consensus EPS estimate of $-0.09. BZFD has beaten EPS estimates in 1 of its last 11 reported quarters (average surprise -709.7% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 4, 2026 | $-0.14 | $-0.22 | -57.1% | $36M | -15.8% |
| May 7, 2026 | $-0.27 | $-0.40 | -48.1% | $32M | -10.0% |
| Mar 12, 2026 | $0.03 | $-0.72 | -2500.0% | $57M | +61.2% |
| Nov 6, 2025 | $-0.06 | $-0.20 | -233.3% | $46M | -20.7% |
| Aug 7, 2025 | $-0.23 | $-0.28 | -21.7% | $46M | -15.1% |
| May 7, 2025 | — | $-0.33 | — | $36M | — |
| Mar 13, 2025 | $0.36 | $-0.10 | -127.8% | $34M | -77.8% |
| Nov 2, 2023 | $-0.08 | $-0.36 | -350.0% | $73M | -29.9% |
| Mar 13, 2023 | $-0.12 | $0.12 | +200.0% | $135M | +2.6% |
| Nov 14, 2022 | $-0.60 | $-0.64 | -6.7% | $104M | +10.2% |
| Aug 9, 2022 | $-0.52 | $-0.68 | -30.8% | $107M | -1.3% |
| May 16, 2022 | $-0.92 | $-1.12 | -21.7% | $92M | -3.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q2 FY2026 · August 4, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Restructuring and Cost Reduction • Implemented a 35% company-wide headcount reduction following the completion of Byron Allen's controlling investment, to address the prior unsustainable cost structure and align costs with underlying business performance • The headcount cut is expected to generate $30 million in annualized cost savings, with one-time restructuring costs of $6.5 to $8.5 million to be paid in the remainder of 2026 • Additional cost cuts include UK office space termination (expected to save $5 million through 2029), reduced outsourced professional fees, restrictions on non-essential travel, a company-wide hiring freeze, and paydown of $20 million in term loan principal, reducing annual interest expenses by over $2 million • Net debt balance as of June 30, 2026 was approximately $5 million, with remaining term loan principal at $25 million - Brand and Audience Strength • Core brands BuzzFeed, Tasty, and HuffPost hold strong market recognition, with approximately 500 million total social media followers and nearly 75 million monthly active users • BuzzFeed Shopping generates ~$500 million in annual gross merchandise sales, and HuffPost maintains a loyal direct audience • Total Q2 2026 time spent (a core engagement metric) reached 62.3 million hours per Comscore, outpacing most peers including People, Inc., Condé Nast, Hearst, and Vox Media; this represents an 11% year-over-year decrease but a 1.7 million hour sequential increase from Q1 2026 - New Strategic Partnership • BuzzFeed entered into a sales representation agreement with Allen Media Group (AMG), which adds AMG's sales organization as an extension of BuzzFeed's internal sales team to monetize BuzzFeed's advertising inventory • The partnership lets advertisers access cross-platform campaigns spanning AMG's portfolio (national linear TV, local broadcast stations, cable networks, The Weather Channel, CBS Late Night) alongside BuzzFeed's digital brands, while BuzzFeed retains full control over pricing, packaging, and all inventory • BuzzFeed gains access to AMG's 30 years of established advertiser and agency relationships to improve its market competitiveness - Business Model and AI Transformation • The company is shifting from a traditional publishing model to an open platform fueled by community creators and partner content, with a focus on returning the core business to profitability as a foundation for future growth • In editorial: A scaled flexible model pairs a smaller core talent team with community creators, fellows, and freelancers, allowing costs to scale with audience traffic rather than remaining fixed during trend shifts • In tech: Teams have been streamlined to focus on high-revenue growth priorities, and widespread AI tool adoption has tripled monthly code output, with human creativity remaining the core of content development - Long-Term Strategic Vision • The company's top priority is developing BuzzFeed into a best-in-class free streaming service and super app, with planned transformative expansion into new verticals including comedy, weather, sports, music, podcasts, news, premium content, and live events
Guidance
- Management is focused on full-year operational targets rather than providing quarterly guidance, due to the ongoing restructuring and platform transition - Management will share a more complete financial outlook with investors once restructuring and the platform transition progress further - Management confirms that cost structure is declining, profitable business lines are being prioritized, and the new platform being built serves a large, viable addressable market
Segment performance
BuzzFeed reports three core product segments for Q2 2026: 1) Advertising: Total company revenue was $36.3 million (down 21.8% year-over-year from $46.4 million in Q2 2025), and advertising revenue decreased $5.3 million year-over-year, accounting for approximately 54.5% of total Q2 2026 revenue. 2) Content: Content revenue decreased $0.7 million year-over-year, accounting for approximately 15.7% of total Q2 2026 revenue. 3) Commerce and other: Commerce and other revenue decreased $4.1 million year-over-year, accounting for approximately 29.8% of total Q2 2026 revenue.
Risks & headwinds
- Prior unsustainable cost structure and high debt burden threatened the viability of the business before the current restructuring and debt paydown - Forward-looking statements carry inherent risk, as actual results may differ materially from projections due to unforeseen factors, as outlined in the company's SEC filings - Audience engagement (measured by time spent) has declined 11% year-over-year, which creates pressure for revenue growth and profitability - The restructuring requires one-time cash charges of $6.5 to $8.5 million in 2026, which will impact near-term earnings