Audacy Third Quarter 2022 Revenues Down, Loss Widens
AUDACY revenues fell 3.8% year-over-year to $317 million in third quarter 2022 as the company's financial woes continue, with a 6% drop in radio revenues more than offsetting a 2% increase in digital revenues to $62.7 million. Operating income dipped from a gain of $29.3 million to a loss of $151.9 million. Net loss widened from $4.8 million to $141 million (-4 to -$1.01/basic and diluted share). The company, which faces possible delisting of its stock as the price remains below $1/share, saw ...
Source: allaccess.com