Radio Flat, TV Drives Overall Revenue Increase At Entravision
November 7, 2014 at 3:52 AM (PT)
ENTRAVISION COMMUNICATIONS CORP. third quarter 2014 revenue rose 8% to $62.274 million, resulting in net income growing from a loss of $21.384 million in 2013 to a gain of $8.057 million in third quarter this year (a loss of 24 cents per share to a gain of 9 cents). Radio revenue was flat at $18 million, with television up 4% to $41 million and digital, broken out for the first time with the acquisition of PULPO in JULY, debuted with $2.9 million.
Chairman/CEO WALTER F. ULLOA said, "During the third quarter, we achieved revenue growth driven by increases in both our television and digital media segments, as well as retransmission consent revenue and political and WORLD CUP advertising revenue. We also improved our free cash flow and net income over the third quarter of 2013 as we benefited from the successful refinancing of our debt last AUGUST. We continued to build our digital footprint through the acquisition of PULPO MEDIA in June 2014, which provides us with an integrated platform to allow advertisers and marketers to connect with Latino audiences. Looking ahead, we remain well positioned to build on our success in attracting Latino audiences, expanding our advertiser base and monetizing our reach to the benefit of our shareholders."