Entravision Sees Revenue Rise In Third Quarter
November 5, 2010 at 4:19 AM (PT)
ENTRAVISION third-quarter net revenue rose 5% to $53.325 million, boosting net income from $673,000 to $6.408 million (1 to 8 cents/share). Most of the increase was attributed to television retransmission consent revenue and WORLD CUP and political TV ads; $200,000 of the increase came from radio, which saw a boost from WORLD CUP and political ads as well. Radio revenues rose 1% in the quarter to $13.183 million.
Chairman/CEO WALTER ULLOA said, "During the third quarter, we generated revenue growth primarily driven by retransmission consent revenue and WORLD CUP and political advertising. Our audience shares remain strong in the nation's most densely populated Hispanic markets, and we believe we are well positioned to benefit as the U.S. Hispanic market continues to expand and advertisers increasingly recognize the importance of reaching our audience."