BuzzFeed Reports 27.0% Revenue Decrease in Second Quarter of FY 2023
August 25, 2023
🌥️Earnings Overview
BUZZFEED ($NASDAQ:BZFD): BuzzFeed‘s second quarter of fiscal year 2023 (ending June 30, 2023) revealed a total revenue of USD 77.9 million, representing a 27.0% decrease from the same period in the previous year. Net income for the quarter was reported at USD -27.8 million, an increase from the year prior of -23.8 million.
Analysis
GoodWhale has conducted an analysis of the fundamentals of BUZZFEED, providing an in-depth look into its financial and business aspects. According to our Risk Rating, BUZZFEED is a medium risk investment. While this is not the highest rating, it still requires investors to analyze their individual risks when deciding whether or not to invest. GoodWhale has detected 3 risk warnings in the company’s balance sheet, cashflow statement and financial journal. Investors should familiarize themselves with the details of these warnings before making any decisions on investment. We invite all investors to register with us to check the details of these warnings in greater detail. Through our analysis, we are confident that investors will be able to make informed decisions regarding their investments with BUZZFEED. BuzzFeed_Reports_27.0_Revenue_Decrease_in_Second_Quarter_of_FY_2023″>More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Buzzfeed. BuzzFeed_Reports_27.0_Revenue_Decrease_in_Second_Quarter_of_FY_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 383.41 | -196.13 | -23.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Buzzfeed. BuzzFeed_Reports_27.0_Revenue_Decrease_in_Second_Quarter_of_FY_2023″>More…
| Operations | Investing | Financing |
| -11.79 | -15.78 | 1.42 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Buzzfeed. BuzzFeed_Reports_27.0_Revenue_Decrease_in_Second_Quarter_of_FY_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 446.42 | 312.79 | 0.93 |
Key Ratios Snapshot
Some of the financial key ratios for Buzzfeed are shown below. BuzzFeed_Reports_27.0_Revenue_Decrease_in_Second_Quarter_of_FY_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.2% | – | -45.6% |
| FCF Margin | ROE | ROA |
| -7.4% | -76.4% | -24.5% |
Peers
In today’s online world, there are a number of companies vying for the attention of internet users. Among them are BuzzFeed Inc and its competitors Chicken Soup for the Soul Entertainment Inc, Paramount Global, and Jishi Media Co Ltd. While each company has its own strengths and weaknesses, they all are fighting for a piece of the online pie.
– Chicken Soup for the Soul Entertainment Inc ($NASDAQ:CSSE)
Soup for the Soul Entertainment Inc has a market cap of 133.3M as of 2022, a Return on Equity of -59.33%. The company is in the business of providing streaming video content. The company’s revenue for the year ended December 31, 2020 was $19.4 million, an increase of $4.4 million, or 29%, from $15.0 million for the year ended December 31, 2019. The company’s net loss for the year ended December 31, 2020 was $12.6 million, or $(0.54) per share, compared to a net loss of $8.0 million, or $(0.43) per share, for the year ended December 31, 2019.
– Paramount Global ($NASDAQ:PARA)
Paramount Global has a market cap of 12.64B as of 2022, a Return on Equity of 18.54%. Paramount Global is a leading provider of global education and training solutions. The company offers a comprehensive range of services and products that enable individuals and organizations to achieve their educational and training goals. Paramount Global’s services and products are delivered through its network of offices and affiliates in more than 40 countries.
– Jishi Media Co Ltd ($SHSE:601929)
Jishi Media Co Ltd is a media company with a focus on online video and film production. The company has a market cap of 5.94B as of 2022 and a Return on Equity of -0.21%. Jishi Media Co Ltd has a strong presence in the online video market with a number of successful productions under its belt. The company is also active in the film production market, with a number of films in development and production.
Summary
BUZZFEED‘s earnings report for the second quarter of fiscal year 2023 revealed a decline in revenue of 27.0% year-over-year, to USD 77.9 million. Net income for the quarter was reported at USD -27.8 million compared to -23.8 million from the previous year, indicating a decrease in profitability. Investors may be concerned about the future of BUZZFEED given the company’s poor financial performance, which could lead to a drop in share price. Long-term investors should carefully investigate the company’s financial position to determine whether or not it is a good investment opportunity.
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