Entravision Revenue Up, But Radio Lags And Income Drops To Loss

Q2 Results

ENTRAVISION COMMUNICATIONS CORPORATION second quarter net revenue increased 23% year-over-year to $273.4 million, but net income fell from a gain of $8.5 million to a loss of $2 million. Digital revenue led the way with a 32% jump to $229.9 million, boosted by acquisitions, with audio off 9% to $13.5 million and television down 8% to $29.9 million.

“We delivered another strong quarter at ENTRAVISION with record quarterly revenue of $273.4 million, increasing 23% year-over-year,” said CFO CHRIS YOUNG. “While elevated operating expenses led to a decline in adjusted EBITDA, we remain focused on managing expenses and leveraging our strong balance sheet to ensure we are well-positioned to grow in the current macroeconomic environment. We were also excited to welcome MICHAEL CHRISTENSON as our new CEO at the beginning of JULY. We look forward to continuing to drive growth under his leadership."

The company's Board of Directors also approved a quarterly cash dividend of 5 cents/share on Class A and Class U common stock, payable on SEPTEMBER 29th to shareholders of record as of SEPTEMBER 15th.

« see more Net News