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Mar 31, 2020
Ziff Davis Q1 2020 Earnings Report
J2 Global reported record first-quarter revenues, but GAAP net income and EPS decreased due to investment write-downs.
Key Takeaways
J2 Global reported a 10.8% increase in revenue to $332.4 million, a record for the first quarter. However, GAAP net loss was $(6.4) million, and GAAP loss per diluted share was $(0.13), due to the write-down of certain investments. Adjusted non-GAAP EPS remained at $1.40.
Q1 2020 revenues increased 10.8% to a record $332.4 million compared to $299.9 million for Q1 2019.
GAAP net (loss) income decreased by 119.7% to $(6.4) million as compared to $32.4 million for Q1 2019.
Adjusted non-GAAP earnings per diluted share for the quarter remained at $1.40 as compared to Q1 2019.
Q1 2020 free cash flow decreased 8.7% to $95.2 million compared to $104.3 million for Q1 2019.
Forward Guidance
The Company is withdrawing its previously issued financial guidance for fiscal 2020. Based on our current performance and expectations, we anticipate Q2 2020 revenues to be slightly down versus Q2 2019 and Adjusted EBITDA and Adjusted non-GAAP EPS to be down single digit percentages versus Q2 2019.
Challenges Ahead
- The Company is withdrawing its previously issued financial guidance for fiscal 2020.
- Anticipate Q2 2020 revenues to be slightly down versus Q2 2019.
- Adjusted EBITDA to be down single digit percentages versus Q2 2019.
- Adjusted non-GAAP EPS to be down single digit percentages versus Q2 2019.
- Limited visibility into the macroeconomic factors that would inform our financial projections for Q3 and Q4 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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