BuzzFeed Q3 revenue drops; company defers full-year guidance as it restructures expenses after workforce reduction
BZFD•BuzzFeed's third-quarter revenue fell 44% year over year to $26.03 million, and it posted a net loss of $18.66 million. The company deferred its full-year 2026 outlook and expects about $30 million in annualized savings from its July workforce reduction.
1. Quarterly results
BuzzFeed reported third-quarter revenue of $26.03 million, down 44% year over year, a net loss of $18.66 million and adjusted EBITDA of negative $4.76 million.
2. Outlook and restructuring
The company deferred its full-year 2026 financial outlook. A July restructuring cut its workforce by 35%, and BuzzFeed expects about $30 million in annualized savings. It said increased direct visits and internal referrals reduced its reliance on external platforms, and it aims to expand content distribution across digital platforms and connected TV in the fourth quarter.
