AI Earnings Predictions for BuzzFeed Inc. (BZFD)

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BUZZFEED, INC. REPORTS Q2 2026 FINANCIAL RESULTS

NEW YORK – August 4, 2026 – BuzzFeed, Inc. (“BuzzFeed” or the “Company”) (Nasdaq: BZFD) today announced its financial results for the quarter ended June 30, 2026.

“BuzzFeed, Tasty, and HuffPost are strong, recognizable brands that have loyal users, but we made it clear on our last earnings call that these businesses were carrying an unsustainable cost structure, and a restructure was immediately needed,” said Byron Allen, BuzzFeed Chairman and CEO. “As such, we recently took steps to significantly reduce costs to better align our cost base with the underlying business, giving us the foundation to grow. I’m also excited to share that BuzzFeed has entered into a sales representation agreement with Allen Media Group (“AMG”), engaging AMG’s sales organization to expand monetization of BuzzFeed’s advertising inventory and give brands and agencies another point of entry to build campaigns spanning premium television, streaming, local broadcast, and digital-first media. I’m energized by what we’re building at BuzzFeed, and by the path we’re now on towards sustainable profitability, positive cash flow, and disciplined investment in our highest-growth priorities.”

“The changes we’ve made create the opportunity to build BuzzFeed differently,” said Jonah Peretti, President of BuzzFeed AI. “We’re shifting from a traditional publishing model to a true platform – one where our community, creators, and partners actively fuel our content ecosystem. That means a more flexible operating model in editorial, and new AI-supported tools in tech that keep human creativity at the core. This operational discipline gives us runway to innovate, transform, and build our next chapter.”

Second Quarter 2026 Financial Results and Operational Highlights

BuzzFeed delivered Q2 2026 revenues of $36.3 million, declining 21.8% compared to the second quarter of 2025

●Advertising revenue declined 23.4% year-over-year to $17.3 million.

●Content revenue declined 6.5% year-over-year to $10.0 million.

●Commerce and other revenue declined 31.4% year-over-year to $9.0 million.

Net loss was $11.8 million, compared to a net loss of $10.6 million in Q2 2025.

Adjusted EBITDA1 was negative $1.7 million for Q2 2026, compared to positive $2.0 million in Q2 2025.

In Q2 2026, audience Time Spent2 with our content totaled 62.3 million hours, reflecting an approximately 10.8% decline compared to Q2 2025.

Business and Content Highlights

●BuzzFeed, the Company’s largest brand, maintained its position as the #1 brand in total U.S. time spent among any single media brand in its competitive set3, reaching 36.0 million hours in Q2 2026. This significantly outpaced second-place People at 26.4 million hours.

●HuffPost recorded 18.0 million hours in total U.S. time spent in Q2 2026, up 16% from last quarter, significantly outperforming competitors such as Vogue.com (4.1 million hours), The New Yorker (3.6 million hours), New York Magazine (2.6 million hours), Vanity Fair (1.9 million hours), Vox.com (0.9 million hours), and Bustle.com (0.5 million hours).

1As used throughout, Adjusted EBITDA is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” below for a description of how it is calculated and the tables at the back of this earnings release for a reconciliation of our GAAP and non-GAAP financial results. Certain figures throughout this document may not foot due to rounding.

2 Refer to the definition of “Time Spent” below.

3 Competitive set includes People.com brand, Condé Nast Digital Group, Vox Media Group, Vogue.com, and Bustle.com.

●Direct visits and internal web and app referrals have taken up 65% of the U.S. traffic on BuzzFeed’s owned and operated properties, an increase from 61% from the prior quarter, reducing the brand’s reliance on distributed platforms and increasing its resilience to platform algorithm changes.

First Half 2026 Results

●Total revenue declined 17.7% to $67.9 million.

●Net loss increased 16.8% to $27.0 million.

●Adjusted EBITDA loss increased by $5.6 million to negative $9.5 million.

Full Year 2026 Financial Outlook

Given the transformation underway, we are focused on full-year operational targets rather than quarterly guidance. As the restructuring and platform transition progresses, we expect to provide investors with a more complete financial outlook.

Quarterly Conference Call

BuzzFeed’s management team will hold a conference call to discuss our second quarter 2026 results today, August 4, at 5 PM ET. The call will be available via webcast at investors.buzzfeed.com under the heading News and Events, and parties interested in participating must register in advance at the same location. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique PIN that can be used to access the call.

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BUZZFEED, INC. ANNOUNCES PROPOSED MAJORITY STAKE INVESTMENT BY BYRON ALLEN’S FAMILY OFFICE

Byron Allen Named Incoming Chairman and Chief Executive Officer of BuzzFeed, Inc.

Jonah Peretti to Transition to President of BuzzFeed AI

Company Also Reports Q1 2026 Financial Results

NEW YORK – May 11, 2026 – BuzzFeed, Inc. (“BuzzFeed” or the “Company”) (Nasdaq: BZFD) today announced the Company has entered into a transaction agreement with Allen Family Digital, LLC, an affiliate of Byron Allen’s family office, under which BuzzFeed, Inc. will accept a majority investment from Allen Family Digital, LLC. Founder and CEO Jonah Peretti will be succeeded by Byron Allen, who will assume the role of Chairman and Chief Executive Officer upon closing, and Peretti will transition to a newly created role as President of BuzzFeed AI.

Under the terms of the agreement, Allen Family Digital will acquire 40 million shares of BuzzFeed, Inc. at a price of $3.00 per share for a total purchase price of $120 million. Upon closing, Allen Family Digital will own approximately 52% of the Company’s outstanding shares. The purchase price will be funded with $20 million in cash at closing, and a $100 million promissory note due five years from closing, accruing interest at 5% annually.

The transaction is currently expected to close by the end of May 2026, subject to customary closing conditions.

The Company also reported financial results for the first quarter ended March 31, 2026.

“Byron Allen has built one of the world’s largest media companies and is one of the most accomplished media entrepreneurs in the industry, having spent 30-plus years transforming distribution infrastructure, identifying strategic assets, and scaling them into something much greater,” said Jonah Peretti, BuzzFeed Founder and CEO. “Byron’s vision, operational experience, and long-term commitment to premium content makes him exceptionally well-positioned to lead BuzzFeed and HuffPost into our next phase of growth. And personally, I’m thrilled Byron is taking over ‘The Late Show With Stephen Colbert’s’ time slot, and highly confident that his relationships with talent will bring some incredible stars to the BuzzFeed platform.”

“To prepare for his arrival, we are planning to make significant changes, including cost reductions and setting up BuzzFeed Studios (including vertical micro-dramas, animation, digital video, and premium studio including feature films) and Tasty as a new independent entity. This investment in our business and Byron’s management roles will provide liquidity and operational focus to BuzzFeed, Inc.,” Peretti continued.

“I will transition to a newly created role as President of BuzzFeed AI. After 20 years as CEO of BuzzFeed, I’m excited to switch my focus to a more hands-on role developing products and technology that are only possible because of recent advances in AI. I’m convinced that AI will fundamentally transform the media industry and empower creative people to build in new ways, and I believe the opportunity is enormous,” Peretti added.

“Jonah is a great visionary and has done a phenomenal job. BuzzFeed and HuffPost have become two iconic global digital media brands with powerful audience reach and strong cultural importance,” said Byron Allen, incoming Chairman and CEO of BuzzFeed. “Our vision is to build on the iconic foundation of BuzzFeed and HuffPost by expanding into free-streaming video, audio and user-generated content. As of this moment, with the power of AI, BuzzFeed is officially chasing YouTube to become another premiere free video streaming service.”

Jonah Peretti co-founded BuzzFeed in 2006 and has served as the Company’s Chief Executive Officer since its founding. Under his leadership, BuzzFeed became one of the defining digital media brands of a generation, pioneering social distribution, viral content, and AI-assisted publishing. In his new role as President of BuzzFeed AI, Peretti will bring his strategic focus to applied AI research, product innovation, and the development of new technology-driven media formats.

Byron Allen is the Founder, Chairman and CEO of Allen Media Group which he founded in 1993 and is headquartered in Los Angeles. Allen owns 13 ABC-CBS-NBC network affiliate broadcast television stations in 11 U.S. markets and ten 24-hour HD television networks serving nearly 275 million subscribers: THE WEATHER CHANNEL, PETS.TV, COMEDY.TV, RECIPE.TV, CARS.TV, ES.TV, MYDESTINATION.TV, JUSTICECENTRAL.TV, THEGRIO TELEVISION NETWORK, and HBCU GO. Allen also owns the digital streaming platforms HBCU GO, SPORTS.TV, LOCAL NOW, and THE WEATHER CHANNEL STREAMING APP. Allen owns a two-hour nightly comedy block on CBS Network and also produces, distributes, and sells advertising for 74 television programs, making him one of the largest independent producers / distributors of first-run syndicated television programming for broadcast television stations, cable

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BUZZFEED, INC. REPORTS Q4 AND FULL YEAR 2025 RESULTS

NEW YORK – (March 12, 2026) – BuzzFeed, Inc.’s (“BuzzFeed” or the “Company”) (Nasdaq: BZFD) fourth quarter and full year (ended December 31, 2025) financial results were in line with its outlook shared in November. In 2025, BuzzFeed grew programmatic advertising by 7% year over year, expanded its studio business with three feature films, and advanced product innovation in key areas.

“We believe there is a gap between the value of our individual assets and our market capitalization that suggests significant unrecognized upside,” said Jonah Peretti, BuzzFeed Founder & CEO. “In 2026, our focus is demonstrating the value of our brands, Studio IP, and new AI apps to the market, and we’re actively exploring strategic options to close that value gap.”

“We’re engaged in strategic conversations to unlock the value Jonah described and remedy the liquidity challenges we currently face, which are described in detail below,” said Matt Omer, BuzzFeed CFO. “Three years ago we had over $180 million in debt —we’ve reduced that by more than 65%. While we’ve significantly reduced operating costs and real estate obligations, we’re still facing legacy commitments that are burdening the business. We’re exploring strategic options to complete the work we started years ago and position the Company to operate profitably on a sustainable basis.”

2025 Full Year Financial and Operational Highlights for Continuing Operations1

●BuzzFeed delivered Full Year 2025 revenues of $185.3 million, declining 2.4% compared to 2024.

○Advertising revenue declined 2.8% year-over-year to $91.7 million.

●Programmatic advertising grew 7.4% year-over-year to $69.6 million, demonstrating strength in scalable, tech-enabled advertising.

○Content revenue increased 9.4% year-over-year to $37.0 million.

●Studio revenue nearly tripled to $16.1 million reflecting the delivery of three feature films during the year plus contributions from micro-dramas.

○Commerce and other revenue declined 8.3% year-over-year to $56.5 million.

●Affiliate commerce declined 6.9% to $55.5 million, primarily reflecting changes in supplemental bonus structures from our partners.

●Net loss from continuing operations was $57.3 million, compared to a net loss from continuing operations of $34.0 million in 2024, which reflects a $30.2 million non-cash goodwill impairment charge driven by a sustained decline in share price.

●Adjusted EBITDA2 improved 61.4% to $8.8 million positive Adjusted EBITDA for the full year, an increase of $3.3 million from 2024.

●In 2025, audience Time Spent3 with our content totaled 276.5 million hours, reflecting a 7.2% decline compared to 2024 —which included elevated engagement of the presidential election cycle.

Fourth Quarter 2025 Financial and Operational Highlights for Continuing Operations

●BuzzFeed delivered Q4 revenues of $56.5 million, increasing 0.6% compared to the fourth quarter of 2024.

○Advertising revenue increased 0.5% to $25.6 million.

1 The historical financial results of Complex Networks and First We Feast (both sold in 2024) have been reflected as discontinued operations in our consolidated financial statements. Amounts presented throughout this press release are on a continuing operations basis.

2 As used throughout, Adjusted EBITDA is a non-GAAP financial measure. Refer to “Non-GAAP Financial Measures” below for a description of how it is calculated and the tables at the back of this earnings release for a reconciliation of our GAAP and non-GAAP results.

3 Refer to the definition of “Time Spent” below.

●Programmatic advertising increased 2.1% year-over-year to $18.4 million.

○Content revenue increased 55.7% year-over-year to $14.7 million.

●Studio revenue grew to $7.3 million, reflecting the recognition of two feature films during the period plus contributions from micro-dramas.

○Commerce and other revenue decreased 23.7% year-over-year to $16.3 million.

●Affiliate commerce declined 22.7% to $16.1 million, primarily driven by a decline in supplemental bonuses from affiliate partners as they refine commission structures.

●Net loss from continuing operations was $26.8 million, compared to net loss from continuing operations of $4.1 million in the fourth quarter of 2024, reflecting a $30.2 million non-cash goodwill impairment charge.

●Adjusted EBITDA for Q4 2025 was $12.0 million, compared to Adjusted EBITDA of $10.9 million in the fourth quarter of 2024.

●Time Spent in Q4 2025 declined approximately 11.3% year-over-year to 70.3 million hours. This was largely expected as Q4 2024 saw elevated engagement during the presidential election cycle.

Business and Content Highlights

●BuzzFeed, the Company’s largest brand, maintained its position as the #1 brand in total U.S. time spent in its competitive set4, reaching 42.4 million hours in Q4 2025 — up 14% from Q3, and 9% year-over-year. This significantly outpaced second