NEWS10 August 2022

Comscore revenues increase in Q2

Financials Media News North America

US – Media evaluation business Comscore saw revenues in the second quarter of 2022 rise 4.3% year-on-year to $91.4m, the firm’s latest financial results show.

Ipad and financial data

In Comscore’s Q2 results for 2022, net losses also dropped compared with the second quarter of 2021 from $18.5m to $5.1m.

Earnings before interest, tax, depreciation or amortisation (EBITDA) was at $6.5m between April and June 2022, a 146.9% increase from the same period the year before.

Cross Platform Solutions revenue grew 13.2% year-on-year to $39.8m, which Comscore said was driven by local and national television measurement and the continued rebound in its Movies business.

Comscore said revenue from its Digital Ad Solutions department declined 1.7% to $51.6m due to slower advertising spend, which impacted some of its digital products.

Based on current trends and expectations, Comscore said it believed its 2022 total revenue will increase between 5% and 7% over 2021 and that its adjusted EBITDA margin will exceed 9%.

The latest financial results follow the recent change in Comscore’s leadership, with Jon Carpenter having replaced Bill Livek as chief executive in July.

Carpenter said: “This is a critical time for the industry, and we are committed and focused on delivering innovative products and solutions that our customers want and driving the growth and profitability our shareholders expect.

“The quarter highlights the momentum in our business, particularly in Cross Platform Solutions, which includes our growing local and national television businesses.

“While there is still work to be done, I am excited and energised about the opportunity ahead.”

@RESEARCH LIVE

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