BuzzFeed Q4 Sales $75.700M Miss $104.600M Estimate
Portfolio Pulse from Benzinga Newsdesk
BuzzFeed (NASDAQ:BZFD) reported Q4 sales of $75.7M, missing the consensus estimate of $104.6M by 27.63%, marking a 43.77% decrease from the same period last year.
March 25, 2024 | 8:34 pm
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BuzzFeed reported significantly lower Q4 sales than expected, missing estimates by 27.63% and experiencing a 43.77% decrease from the previous year.
Missing earnings estimates by a significant margin and reporting a substantial year-over-year decline in sales are strong indicators of potential negative impact on BuzzFeed's stock price in the short term. Investors typically react negatively to such earnings misses, which can lead to a decrease in stock price as market confidence wanes.
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IMPORTANCE 90
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