Radio giant and digital marketing company Townsquare Media released second-quarter earnings, generally satisfying investor expectations.
The company is differentiated by its concentration on small and medium city markets. It is the third-largest AM/FM operator in the U.S, managing nearly 350 stations. Townsquare has a strong local digital footprint, with about 400 station-companion apps and websites that deliver news, weather, and traffic to supplement those radio components.
The net revenue lines of the earning reports show a remarkable sameness year-over-year, as shown in the table below.
Financial Highlights:
- REVENUE: $115.4M, down 0.1% year-over-year
- Adjusted EPS: $0.21 per share (beating consensus)
- Net Loss: $41.8M
- Adjusted EBITDA: $24.8M
SEGMENTS:
- Digital Advertising: Revenue accelerated +11% YoY
- Townsquare Interactive (subscription digital)> Revenue decreased 8.5%, but profit grew 3.4%, and margins hit a record 37.6%
- Broadcast Advertising: Revenue down 5.5% YOY.
- Digital Mix: Accounted fot 57% of total net revenue
