Ziff Davis (ZD) Earnings Date & Reports

Key Takeaways

• Ziff Davis is scheduled to report its third quarter 2026 results after the market close on Thursday, November 5, 2026.
• Analysts expect adjusted earnings per share (EPS) in the low-to-mid $1.20s, with consensus revenue estimates clustered between roughly $295 million and $304 million.
• Year-over-year comparisons will be distorted by the completed sale of the Connectivity business to Accenture for roughly $1.2 billion, now classified as discontinued operations.
• In its most recent quarter, the company posted adjusted EPS of $1.03, comfortably beating consensus, while revenue declined 2.7% year over year.
• Investors will focus on traffic trends in Technology & Shopping, Health & Wellness ad demand, and the pace of share repurchases.

Earnings Context and Why It Matters

Ziff Davis is a vertically focused digital media and internet company whose portfolio spans brands such as IGN, PCMag, Mashable, Everyday Health, MedPage Today, IPVanish, and Moz. The upcoming report is significant because it arrives during a strategic reset: the company has completed the divestiture of its Connectivity unit and is now measured purely on its continuing digital media, health, cybersecurity, and marketing technology operations. Recent quarters have been shaped by softness in programmatic advertising and affiliate commerce, tied in part to declining Google search traffic. Against that backdrop, this report will signal whether the company's core segments are stabilizing and whether management's expectations for sequentially improving year-over-year performance are on track.

Earnings Expectations

Heading into the release, sell-side consensus points to adjusted diluted EPS of roughly $1.25, with revenue forecasts generally landing between about $295 million and $304 million. Those figures compare with adjusted EPS of $1.76 and revenue of $363.7 million in the third quarter of 2025, though that prior-year base included the Connectivity business and is therefore not directly comparable.

Management has already framed the quarter, guiding on its last earnings call for third-quarter revenue to decline in the low-to-mid single digits year over year, alongside modest improvement in adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) margin. Investors will also watch segment-level performance. In the second quarter, Technology & Shopping revenue fell 5.0%, Health & Wellness declined 4.8%, Cybersecurity & Martech rose 0.5%, and Gaming & Entertainment grew slightly. Commentary on advertising demand, subscription trends, and cost discipline will be central to whether results land ahead of or behind expectations.

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Market Reaction and Investor Sentiment

Sentiment into the print is cautiously optimistic. Ziff Davis shares have advanced meaningfully since the second-quarter report, and the stock delivered a positive earnings surprise last quarter, with adjusted EPS of $1.03 versus consensus near $0.81. That momentum, however, sits alongside structural concerns. The continued pressure on search-referral traffic, ongoing litigation over AI-related copyright issues, and a measured advertising environment for pharma and display remain live risks. Because management has already provided directional guidance, the stock's reaction will likely hinge less on the headline numbers and more on fourth-quarter commentary, margin trajectory, and any evidence that Technology & Shopping traffic declines are bottoming out.

Forward Outlook and Key Factors to Monitor

Beyond the headline results, several factors will shape how investors interpret the quarter and what they watch next.

First, the trajectory of Technology & Shopping remains the central narrative. Management has signaled that sequential revenue declines are improving and that each successive quarter in 2026 should look better on a year-over-year basis. Confirmation of that trend, particularly in affiliate commerce and programmatic display advertising, would be a meaningful positive signal.

Second, capital allocation will stay in focus. The company repurchased roughly 2.6 million shares for about $121.5 million in the second quarter and has a meaningful remaining authorization. With approximately $149 million in convertible notes maturing in November 2026, investors will watch how the company balances debt repayment against continued buybacks using proceeds from the Connectivity sale.

Third, segment-level demand signals matter. Health & Wellness has benefited from consumer pharma advertising, including GLP-1 related campaigns, and a long-term extension with Cleveland Clinic, while Gaming & Entertainment continues to lean on Humble Bundle and subscription growth. Any commentary on the sustainability of these drivers, along with cost trends and adjusted EBITDA margin, will help frame expectations for the fourth quarter and into 2027.

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