Ziff Davis, Inc. saw its shares plummet 6.08% in the after-hours trading session on Monday following the release of its fourth-quarter earnings results. The company reported adjusted earnings per share of $2.58, missing analysts' consensus estimate of $2.63 per share.
The digital media and internet company posted revenue of $412.8 million for the quarter, falling short of the expected $424.5 million. Adjusted EBITDA also came in below expectations at $171.8 million, compared to the estimated $183.6 million.
While Ziff Davis reported year-over-year growth in revenue and net income, the weaker-than-anticipated financial results appear to have dampened investor sentiment, leading to the sharp sell-off in the company's stock during the after-hours session.