Ziff Davis reported quarterly revenue of $434.7 million, an increase of 24.5% over the same period in 2020, according to the company’s third-quarter earnings report, released Wednesday evening.
Adjusted EBITDA for the quarter increased 13.6%, to $175.1 million, compared to $154.1 million for Q3 2020, the company said in a statement.
Ziff, formerly known as J2 Global, Inc., trades on the Nasdaq exchange under the symbol ZD. Its broad media portfolio includes brands in technology, entertainment, shopping, health, cybersecurity and martech.
New York-based Ziff announced early last month that it completed a spin-out of its business cloud services division as a separate independent, publicly traded company.
Its media unit far outperformed its cloud-services division, both for the quarter and the year to date. Cloud services produced $182.1 million in revenue for the quarter and $528.8 million for the year through the third quarter.
Conversely, media produced $262.2 million for the third quarter and $742.7 million combined for the first three quarters, according to the Ziff statement.
“There is great enthusiasm and excitement at Ziff Davis as we embark on our new chapter,” Vivek Shah, CEO of Ziff Davis, stated. “Our portfolio of digital media and internet brands are very well-positioned to thrive in some of the highest-value verticals in the marketplace.”
For the year, Ziff reported revenue of $1.2 billion, a 24.6% increase from the $1 billion it reported for the first three quarters of 2020. Adjusted EBIT was up by a similar amount — 24.7% for a 2021 total of $503.4 million.
ZD was trading at $129.24 mid-morning on Thursday, slightly off from its previous close, and $6.00 off from its 12-month high.