Audacy, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 04, 2023 at 08:05 am EDT
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Audacy, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 298.51 million compared to USD 319.44 million a year ago. Net loss was USD 125.8 million compared to USD 0.773 million a year ago. Basic loss per share from continuing operations was USD 26.64 compared to USD 0.17 a year ago. Diluted loss per share from continuing operations was USD 26.64 compared to USD 0.17 a year ago.
For the six months, sales was USD 558.15 million compared to USD 594.73 million a year ago. Net loss was USD 161.71 million compared to USD 11.85 million a year ago. Basic loss per share from continuing operations was USD 34.24 compared to USD 2.57 a year ago. Diluted loss per share from continuing operations was USD 34.24 compared to USD 2.57 a year ago.
Audacy, Inc. is a multi-platform audio content and entertainment company. The Company is a creator of live, original events, including large-scale concerts, intimate live performances with big artists on small stages. The Company offers local and national advertisers integrated marketing solutions across its broadcast, digital, podcast and event platforms, delivering the power of local connections on a national scale. The Company operates digital properties on multiple platforms, including Websites, mobile apps, and social media. It provides streaming services through its Audacy app and Website, its integrated digital platform where consumers discover and connect live with premium, curated content powered by over 2,639 radio and digital stations and their websites, podcasts, audio on-demand, and exclusive content across entertainment, music, news and sports. It also provides embedded advertisements in its owned and operated podcasts and other on-demand content.