Audacy, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 08:07 am EST
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Audacy, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 299.17 million compared to USD 316.97 million a year ago. Net loss was USD 234.33 million compared to USD 140.98 million a year ago. Basic loss per share from continuing operations was USD 49.64 compared to USD 30.35 a year ago. Diluted loss per share from continuing operations was USD 49.64 compared to USD 30.35 a year ago.
For the nine months, sales was USD 857.31 million compared to USD 911.7 million a year ago. Net loss was USD 396.04 million compared to USD 152.82 million a year ago. Basic loss per share from continuing operations was USD 84.29 compared to USD 32.92 a year ago. Diluted loss per share from continuing operations was USD 84.29 compared to USD 32.92 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.