Comscore Reports Flat Quarter and $52.4m Net Loss

Comscore has reported a third quarter revenue rise of just 0.3% - to $92.8m from $92.5m in last year's Q3. Adjusted EBITDA was little changed at $11.7m (up 3.5%) while one-off costs turned net income of $2m a year ago into a net loss of $52.4m.

The net loss was the result of a non-cash goodwill impairment charge of $46.3m and restructuring costs of $5.8m. Comscore says based on current trends and expectations it is lowering its 2022 revenue growth estimate to low single digits.

During the period, Cross Platform Solutions revenue grew 14.0% to $40.4m, driven by local and national TV measurement and a continued rebound in the Movies segment. Digital Ad Solutions revenue fell 8.2% to $52.4m, which the firm said was due to slower ad spend, impacting Activation and other digital products.

CEO Jon Carpenter (pictured) comments: 'In the third quarter, we rounded out our executive team with leadership positions that I believe are critical to the success of Comscore, we committed to delivering faster data to our customers, and in September, we rolled out our Comscore TV Pulse data with a delivery speed of 48 hours. We also announced a restructuring plan as a first step in becoming more cost efficient. We continue to see momentum in our local and national television businesses, and even though the current economic environment is challenging for our industry, we are excited about what's ahead for Comscore'.

Web site: www.comscore.com .