BuzzFeed's Q1 2024 revenues fell by 18% YoY to $44.8 million, with advertising revenues down 22% to $21.4 million.
Programmatic advertising for BuzzFeed and HuffPost grew by 6% YoY, marking the third consecutive quarter of growth.
BuzzFeed completed a restructuring program, leading to $23 million in annualized savings.
Q2 outlook predicts an overall revenue decline of 21-30% YoY, with adjusted EBITDA expected to be flat YoY.
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