KanawatTH
Shares of digital media company Ziff Davis (NASDAQ:ZD) slumped as much as 12.3% on Wednesday after the company disclosed in a Securities and Exchange filing that its second quarter results will come in below average Wall Street analyst estimates.
The company said that the participants of its convertible notes exchange transaction were notified with a preliminary business and financial update and told them that a number of its businesses experienced headwinds during the second quarter.
Details of the preliminary financial update for Q2 were not disclosed in the filing. The company said it plans to release its earnings in early August.
The Seeking Alpha consensus estimate for Ziff Davis’ Q2 revenue is $334.10 million and EPS is $1.29.
ZD shares -8.2% at $47.59 in trading session; Stock is down 29.5% YTD.