ZipRecruiter reports Q3 EPS 23c, consensus 11c

Reports Q3 revenue $155.6M, consensus $149.8M. “Third quarter results demonstrate an additional proof point of ZipRecruiter’s resilience and durability in the midst of a difficult macroeconomic backdrop and a slowdown in hiring across most sectors. We delivered $24 million of net income and $54 million of Adjusted EBITDA in the third quarter of 2023, both of which were increases year-over-year and sequentially despite a weakening top line,” said Ian Siegel, CEO of ZipRecruiter. “Employers continue to take a much more cautious approach to hiring, impacting the number of job openings and the urgency with which those openings need to be filled. While the cyclical nature of the labor market is inevitable, the opportunity to capture share in a massive market through product innovation and technological advancement endures. Our brand awareness, flexible financial model, and strong balance sheet allow us to remain long-term focused and invest through this challenging cycle.”