Overview
Urban One Q2 rev falls 22.2% yr/yr, impacted by weaker Reach Media performance
Co reports Q2 operating loss of $120.7 mln, net loss of $77.9 mln
Adjusted EBITDA declines to $14 mln; full-year guidance cut to $60 mln
Outlook
Urban One reduces full-year Adjusted EBITDA guidance to $60 mln, citing economic headwinds
Urban One notes sequential improvement in radio pacing for Q3
Company focuses on cost control and maintaining liquidity amid challenges
Result Drivers
REACH MEDIA - Weaker performance due to client attrition and lower CPM, segment was loss-making
DIGITAL SEGMENT - Lower advertising demand and reduced streaming CPM impacted revenue
RADIO ADVERTISING - Core radio advertising down 11.8% due to declining national demand
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $91.60 mln |
|
Q2 EPS |
| -$1.74 |
|
Q2 Net Income |
| -$77.90 mln |
|
Q2 Adjusted EBITDA |
| $14 mln |
|
Q2 Operating Income |
| -$120.70 mln |
|
Press Release: ID:nPn2pR0gRa