Digital media firm People Inc's Q2 revenue falls less than expected

• Digital revenue growth - Digital revenue rose 6%, driven by 23% growth in licensing and other revenue, improved performance from Apple News+, content syndication partners, and the Meta content partnership.
• Affiliate commerce - Performance marketing revenue increased 13%, mainly due to 11% affiliate commerce growth from higher transaction volumes.
• Print revenue decline - Print revenue fell 16% due to ongoing portfolio optimization and continued migration of audience and advertising spend from print to digital.

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell".

The average consensus recommendation for the online services peer group is "buy".

Wall Street's median 12-month price target for People Incorporated is $50.00, about 20.3% above its July 31 closing price of $41.57.

The stock recently traded at 908 times the next 12-month earnings vs. a P/E of 94 three months ago.

The company authorized repurchase of an additional 10 mln shares and agreed to sell fund stake for $189 mln.

The company expects corporate consolidation to complete in Q1 2027 with annual run-rate expense of $45 mln.

The company expects sale of Limited Partner stake to close in Q3.