Key Financial Data
- Total revenue: $92.68 million (-16% year-over)
- Net income: -$2.83 million
- Diluted EPS: -$0.06
- Operating expenses: $90.17 million (-34%)
- Radio broadcasting revenue: $34.7 million (-12.6%)
- Digital revenue: $12.7 million (+30.7%)
- Cable television revenue:$39.8 million (-7.0%)
National television and radio broadcaster Urban One reported lower revenue during its third quarter (Q3) of the year, primarily attributed to ongoing softness in the traditional advertising market.
During Q3, Urban One pulled in just $92.68 million from its operations, which include more than 50 radio stations and the national cable networks TV One and Cleo TV. Overall revenue was down 16 percent compared to the $110.4 million earned last year.
The company reported a $2.83 million net loss during the quarter, an improvement from the $31.8 million loss logged during Q3 2024, based primarily on lower overall expenses. Total expenses were $90.2 million, down 34 percent on a year-over basis.
Urban One said it reigned in expenses during Q3, which led to an improvement across some financial metrics, including an easing of its overall financial loss. But continued pressure in the advertising market chipped away at revenue in its radio business, and higher churn at cable and satellite distribution partners ate into affiliate fees earned from those networks.
Shares of Urban One were trading around 4 percent lower during the day.
Stock Price
Radio-related revenue fell nearly 13 percent to $34.7 million, while cable television revenue dropped 7 percent to $39.8 million.
“Our focus remains on controlling costs, managing debt, leverage and liquidity,” Alfred Liggins, teh President and CEO of Urban One, said in a statement that accompanied the earnings release.
