Digital Drives Big First Quarter 2021 Revenue Increase At Entravision

Revenue Increase

ENTRAVISION COMMUNICATIONS first quarter 2021 net revenue jumped 132% year-over-year to $148.9 million, taking the company's net income from a loss of $35.6 million to a gain of $7 million for the quarter. Net income attributable to common stockholders  likewise went from a loss of $35.6 million to a gain of $5.4 million (-42 to +6 cents/basic and diluted share). The revenue increase was credited to digital in general (up 661% to $101.5 million) and the acquisition of a majority interest in CISNEROS INTERACTIVE in particular, while radio fell 4% to $11.3 million and television lost 8% to $36.1 million.

“We are very pleased with our results for the first quarter 2021, with core television and audio performing well, along with our digital segment that continues to see solid growth,” said Chairman/CEO WALTER F. ULLOA. “We are particularly pleased with the progress of our recent acquisition of CISNEROS INTERACTIVE through which we significantly expanded ENTRAVISION’s digital offerings to customers, including representing some of the strongest global audience and ad tech platforms. As we grew our top line, we also remained cost conscious and continue to operate a much more efficient business than even prior to the onset of the COVID-19 pandemic. Overall, we are optimistic for gradual, but continued progress throughout the balance of the year as macroeconomic conditions progress.”

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