Comscore Slows Revenue Decline

Comscore has reported third quarter revenue of $88.5m, down 2.7% from a year previously, and constant currency adjusted EBITDA almost unchanged at $12.4m.

Revenue from Content & Ad Measurement was flat year-on-year, with lower revenue from syndicated audience offerings (mostly national TV and syndicated digital products) offset by a 33.5% increase in cross-platform revenue. Revenue from Research & Insight Solutions was down 14.2%, with lower deliveries of some custom digital products.

The firm reported a net loss of $60.6m due to a non-cash goodwill impairment charge of $63.0m - last year it reported Q3 net income of $2.6m. Operating expenses were reduced roughly in line with revenue, preserving earnings. The sizeable goodwill impairment charge followed a review of the firm's declining stock price and market capitalization.

CEO Jon Carpenter (pictured) says the firm has taken 'meaningful steps forward' in its cross-platform business, with several key wins in this area. He adds: 'We've also made steady progress embedding our cross-platform measurement and audience products into the programmatic ecosystem. This progress enables advertisers to more easily target the audiences most important to them and measure their campaign's ability to deliver incremental audiences across platforms. As we look ahead to Q4 and into 2025, I'm confident we will continue to make progress in our transformation, positioning us to become the industry's leading source for cross-platform audience planning and measurement'.

Today's results are slightly better than those for Q2. For the full year, Comscore if forecasting revenue of between $351 and $355 million, with an adjusted EBITDA margin of at least 10%.

Web site: www.comscore.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.