Summary by Moomoo AI
ZipRecruiter, a leading online employment marketplace, reported a decrease in financial performance for the quarter ended June 30, 2024. The company's revenue for the quarter was $123.7 million, a significant drop from $170.4 million in the same quarter the previous year. Net income also fell to $7.0 million, down from $14.4 million year-on-year. Adjusted EBITDA was reported at $27.8 million, compared to $43.3 million in the prior year's quarter. The company attributed the decline to a challenging economic climate, with high inflation and interest rates impacting the labor market and leading to a reduction in hiring plans by employers. Despite the decrease in Quarterly Paid Employers, Revenue per Paid Employer saw a slight increase, indicating improved value in the services offered. ZipRecruiter plans to...Show More