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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Ziff Davis
Ziff Davis (ZD) investor relations material
Ziff Davis Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary6 Nov, 2026
Executive summary
Q3 continuing-operations revenue fell 5.6% YoY to $289.326M; Adjusted EBITDA declined 16.0% to $82.220M, while adjusted diluted EPS was $1.39 vs. $1.40.
Sequential revenue growth and a 160 bps QoQ improvement in Adjusted EBITDA margin came amid ongoing search and advertising pressure.
Financial highlights
Q3 continuing-operations net loss was $28.692M vs. net income of $14.308M; operating loss was $33.6M, including impairment charges.
Adjusted net income was $48.304M vs. $56.818M YoY; adjusted diluted EPS was $1.39 vs. $1.40.
Q3 free cash flow was negative $100.065M; transaction-adjusted free cash flow was negative $9.981M.
Nine-month net income was $618.0M, including $699.7M of discontinued-operations income and an $860.6M pretax gain on the Connectivity sale.
Outlook and guidance
Q4 revenue expected to rise double digits sequentially and decline low- to mid-single digits YoY, with the YoY decline similar to or better than Q3.
Q4 Adjusted EBITDA margin expected to improve sequentially but decline YoY to the low- to mid-30s; adjusted diluted EPS expected to rise slightly YoY.
Tech and shopping trends expected to improve into Q4; MedPage sequential growth expected to continue through year-end. Gaming ad demand may improve in 2027 as the game-release slate strengthens.
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Latest events from Ziff Davis
- FY 2024 guidance targets renewed growth after 2023 declines and goodwill impairment.ZD
Q4 2023 - Connectivity sale fueled $624.5M net income and $1.61B cash, despite revenue decline.ZDQ2 2026
- Strong segment growth, AI integration, and disciplined capital allocation drive value creation.ZDGlobal Technology, Internet, Media & Telecommunications Conference 2025
- Portfolio transformation, AI-driven innovation, and diversified growth strategies drive future outlook.ZDJ.P. Morgan 54th Annual Global Technology, Media and Communications Conference
- Q1 2026 saw lower revenue and profit, major divestiture, and continued share repurchases.ZDQ1 2026
- All director, auditor, and executive compensation proposals passed by majority vote.ZDAGM 2026
- Connectivity business sold for $1.2B, unlocking value and expanding global reach.ZDM&A announcement
- Q3 revenue and EBITDA rose, but net loss widened on goodwill impairment; guidance reaffirmed.ZDQ3 2024
- 2024 saw revenue and profit growth, strong free cash flow, and a positive 2025 outlook.ZDQ4 2024
Next Ziff Davis earnings date
RBC Global Industrials Conference 202617 Nov, 2026
Ziff Davis
Next Ziff Davis earnings date
RBC Global Industrials Conference 202617 Nov, 2026
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Frequently asked questions
Ziff Davis Inc is a digital media and internet company that operates in the technology, health, gaming, and communications sectors. The company owns a portfolio of digital properties, advertising networks, and cloud-based services, delivering content and commerce to global audiences. The company is headquartered in New York, New York, and its shares are listed on the NASDAQ.