Friday, August 6, 2021

J2 Global Raises Guidance, Sees Record Results

Los Angeles-based J2 Global said it had record, second quarter 2021 results, and is raising its full year guidance, the company said on Thursday, as revenues in its Digital Media area surged. According to J2 Global, it saw its Q2 201 quarterly revenues increase to $429.0 million, compared to $331.0M for Q2 of 202, a 29.6 percent increase. The company's Digital Media revenues were up 54.8%, growing to $253.8M from $163.9M a year ago. J2 Global did not say what drove that large revenue increase, but said it now has approximately $465M in cash, cash equivalents, and investments, after spending approximately $94.9M for current and prior year acquisitions.