Buzzfeed stock jumps 7% following forecast, AI blueprint announcement

Buzzfeed Inc. (BZFD) shares popped in the extended session Thursday after the digital media company forecast adjusted metrics for the year and said it was using more AI in its content. Buzzfeed shares rallied more than 7% after hours, following a 3.1% decline to close the regular session at 54 cents a share. Following the close of markets, Buzzfeed forecast adjusted earnings before interest, taxes, depreciation and amortization "in the high teen millions" of dollars. The company also said it was "using generative AI to innovate around new content formats and establish the blueprint for AI-driven revenue growth across the company."

-Wallace Witkowski

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05-11-23 1653ET

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