BuzzFeed reports Q1 EPS (72c) vs. (83c) last year

Reports Q1 revenue $44.8M vs. $54.9M last year. “We closed the first quarter of 2024 with exciting momentum in our business, completing the biggest step in our transformation, which was to refocus the company on our owned and operated sites and apps, and away from the platform-dependent model of distribution,” said Jonah Peretti, BuzzFeed Founder & CEO. “Today, our direct audience is our largest source of traffic to BuzzFeed’s websites and apps, and this audience is growing, which represents a huge opportunity for us to drive deeper engagement with several new content initiatives in our pipeline. Our flagship BuzzFeed brand continues to lead digital media in time spent. We’re poised to further extend this leadership with the integration of AI, driving both creative storytelling and the evolution of our business.”