Ziff Davis guided for third-quarter revenue to decline low- to mid-single digits year-over-year, reflecting ongoing pressure in search referral traffic and softer advertising demand from large pharmaceutical clients. The company completed the $1.2 billion sale of its Connectivity business to Accenture during the second quarter and repurchased approximately 2.8 million shares, deploying more than $200 million to buy back 4.5 million shares year-to-date and reducing shares outstanding by nearly 11% over seven months. Second-quarter revenue fell 2.7% to $286.7 million, adjusted EBITDA declined 3.7% to $76.8 million, and adjusted diluted EPS rose 13% to $1.03, aided by the lower share count. Management also disclosed that the share of code authored by artificial intelligence roughly doubled in the quarter, with nearly all code expected to be AI-authored before the end of 2026.
Ziff Davis IncZiff Davis expects Q3 revenue to decline due to pressure in search referral traffic and softer advertising demand from pharma clients.
Accenture plc