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Audacy's Second Quarter Sees Revenue Down, Loss Widening

AUDACY net revenues slid 6.6% year-over-year to $298.5 million for second quarter 2023, with local spot revenue down 3.7%, national spot revenue off 16.6%, and digital revenues off 4% to $66.7 million, although local digital rose 7.1%. Operating loss widened from $23.3 million to $135.3 million, net loss widened from $773,000 to $125.8 million, and Adjusted EBITDA plummeted from $38.5 million to $14.4 million. Things aren t looking up for third quarter, either, with the company reporting . ....

Perry Michael Simon , Second Quarter Sees Revenue Down , Perry Michael , Davidj Field ,