People Inc (PPLI) Reports Q3 2026 Results Amid Digital Transition and MGM Investment Loss
People Incorporated (PPLI) reported third-quarter results characterized by a significant net loss of $687.5 million, primarily driven by a $1.1 billion unrealized loss on its investment in MGM Resorts International. While digital revenue grew 2% year-over-year to $288.5 million, the company faced headwinds from a 26% decline in core web sessions as AI-driven search features reduced referral traffic from Google. To counter these shifts, management is pivoting toward nonsession-based revenue streams, which grew 15% to $125 million through social video and licensing. The company also announced staffing reductions of approximately 6% of its workforce to reallocate resources toward strategic digital priorities. Despite the net loss, adjusted EBITDA remained nearly flat at $54.8 million.