Q2 2026 People Incorporated Earnings Call Transcript
Key Points
- People Inc (PPLI) delivered its 11th consecutive quarter of digital revenue growth, with a 6% increase in Q2 2026.
- Digital adjusted EBITDA grew 18% year-over-year, with margins expanding to 26% from 23%.
- Non-session-based revenue grew 16%, driven by strong performance in licensing, AI partnerships, events, and social programs.
- The company signed an agreement to sell its limited partner stake in a third-party fund for approximately $189 million in gross cash, expected to close in Q3 2026.
- People Inc (PPLI) reaffirmed its full-year 2026 guidance, with expected EBITDA of $325 million to $355 million for the operating company.
- Core sessions declined 22% in the quarter, reflecting ongoing challenges from AI-driven search changes and reduced Google traffic.
- Print revenue declined 18% in Q2 2026, continuing the secular downtrend in print advertising.
- The company faces uncertainty regarding the MGM buyout proposal, with no resolution yet and a speculative outcome.
- People Inc (PPLI) continues to trade at a discount to its MGM holdings plus cash, implying the media business is valued at zero.
- The company expects moderation in performance marketing growth in the second half of 2026, which could impact overall revenue growth.
Good day and welcome to the People Incorporated second quarter 2026 earnings conference call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero.
After introductory remarks, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. And to withdraw your question, please press star then two.
Please note this event is being recorded. I would now like to turn the conference over to Mr. Christopher Halpin, Executive Vice President, Chief Operating Officer and Chief Financial Officer of People Incorporated. Please go ahead.
Thank you. Good morning, everyone. Christopher Halpin here and welcome to the People Incorporated second quarter earnings call.
Joining me today are Barry Diller, Chairman and Senior Executive of People Incorporated, Neil Vogel and Tim
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