Digital media company Ziff Davis (NASDAQ: ZD) will be reporting earnings this Thursday after market hours. Here’s what to look for.
Ziff Davis met analysts’ revenue expectations last quarter, reporting revenues of $286.7 million, down 2.7% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates.
Is Ziff Davis a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Ziff Davis’s revenue to decline 19% year on year, a reversal from the 2.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings.
Looking at Ziff Davis’s peers in the media & entertainment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Stride delivered year-on-year revenue growth of 3%, beating analysts’ expectations by 3.8%, and People reported a revenue decline of 3.6%, falling short of estimates by 2.6%. Stride traded down 3.2% following the results while People was up 3.7%.
Read our full analysis of Stride’s results here and People’s results here.
Investors in the media & entertainment segment have had steady hands going into earnings, with share prices flat over the last month. Ziff Davis is down 3.6% during the same time and is heading into earnings with an average analyst price target of $63.67 (compared to the current share price of $53.99).
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