BuzzFeed Shares Rise After Completing Strategic Changes

Dow Jones

Mar 14, 2025

By Katherine Hamilton

BuzzFeed shares rose after it said it completed strategic changes and shared plans for the future of its business.

The stock advanced 15% to $2.25 after the market closed Thursday. It has gained 22% a over the 12 months.

The digital media company said it completed strategic and organizational changes and reduced debt. It is launching a social platform called BF Island, which it plans to start testing as a private beta version in the second quarter. It's also prioritizing its programmatic advertising, affiliate commerce and artificial intelligence-driven businesses.

BuzzFeed said in 2023 it was shuttering its primary news business.

It posted a loss of 10 cents a share in the three months ended Dec. 31, compared with a profit of 13 cents a share the year before.

Revenue fell 20% to $56.2 million. Advertising sales declined, reflecting the company's pivot away from direct-sold advertising and into programmatic ads.

In 2025, BuzzFeed expects to make $195 million to $210 million in revenue. That would be a 3% to 10% increase, it said.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

March 13, 2025 19:22 ET (23:22 GMT)

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