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Urban One Q2 revenue drops 22%, net loss widens

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

MetricBeat/MissActualConsensus 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 (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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