DivestmentAug 7, 2026, 04:14 PM
Ziff Davis Sells Connectivity Business; Q2 Net Income $624.5M
AI Summary
Ziff Davis, Inc. reported its second-quarter 2026 financial results, highlighted by the completion of the sale of its Connectivity business to Accenture Inc. This divestment significantly boosted net income to $624.5 million for the quarter, with discontinued operations contributing $676.6 million. However, the company recorded a net loss of $52.2 million from continuing operations, and total revenues decreased to $286.7 million. The company's cash position substantially improved to $1.61 billion, and it repurchased $173.1 million in common stock during the first half of the year.
Key Highlights
- Completed the sale of its Connectivity business to Accenture Inc. on June 17, 2026.
- Reported net income of $624.5 million for Q2 2026, primarily driven by discontinued operations.
- Net income from discontinued operations was $676.6 million for Q2 2026.
- Net loss from continuing operations was $52.2 million for Q2 2026.
- Total revenues for Q2 2026 were $286.7 million, down from $294.8 million in Q2 2025.
- Diluted EPS was $17.16 for Q2 2026, compared to $0.63 in Q2 2025.
- Cash and cash equivalents increased to $1.61 billion as of June 30, 2026.
- Repurchased $173.1 million of common stock during the six months ended June 30, 2026.
Price Impact
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