NEWS8 November 2023

Comscore revenues fall in Q3 but delivers net income

Financials Media News North America

US – Media evaluation company Comscore saw a slight drop in revenues but returned a net income of $2.6m in the third quarter of 2023, according to the firm’s latest financial results.

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The results show that revenues fell from $92.8m in the third quarter of 2022 to $91m in the same period this year.

However, the net income of $2.6m was a marked improvement on the same three-month period in 2022, where there was a net loss of $52.4m.

Comscore said its Digital Ad Solutions division revenue declined 3.6% from the third quarter of 2022, primarily due to the timing of deliverables for certain custom digital products and lower revenue from syndicated digital products.

This drop was partially offset by increased usage of Comscore’s Activation products and Comscore Campaign Ratings (CCR), which grew 23% for the quarter compared with 2022.

There was a decline in television revenue in the latest quarter and film revenue was flat compared with the prior year’s quarter.

Jon Carpenter, chief executive at Comscore, said: “Despite challenging end-markets that impacted revenue in the quarter, we delivered double-digit growth in local TV, more than 20% growth in Activation and Comscore Campaign Ratings, and a significant increase in profitability and adjusted EBITDA.

“As we close out 2023 and look to 2024, we will continue to leverage Comscore’s complete view of audiences across platforms to deliver value for our clients and shareholders.”

@RESEARCH LIVE

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