Digital firm BuzzFeed Inc. recorded triple-digit growth in its earnings for 2021 following nearly 30% growth in the last three months of the year, the firm announced in a filing.

  • The company’s fourth-quarter net income climbed 29% to $41.572 million from $32.297 million in the same quarter of 2021. Total revenue for the period jumped by 18% to $145.716 million from $123.027 million.
  • Advertising revenue grew 24% to $69.101 million and content revenue by 33% to $59.939 million, while commerce revenue fell by 26% to $16.676 million. All three segments posted year-on-year growth.
  • The full-year net income surged by 132% to $25.876 million from $11.156 million, while total revenue for the year grew by 24% to $397.564 million from $321.324 million recorded in 2020.
  • BuzzFeed expects its earnings before interest, taxes, depreciation, and amortization to fall between the range of $15 million and $20 million for the combined company and stock-based compensation expenses between $3.5 million to $4.5 million.

BuzzFeed became the first publicly traded digital media firm in 2021. BZFD is up 2.42%.