Welcome to our dedicated page for AUDACY A news (Ticker: AUDAQ), a resource for investors and traders seeking the latest updates and insights on AUDACY A stock.
Audacy Inc (AUDAQ) operates at the intersection of traditional radio broadcasting and digital audio innovation, delivering news, music, and podcasts to millions of listeners. This page serves as the definitive source for official company announcements and media coverage, providing stakeholders with timely updates directly from primary sources.
Investors and industry observers will find curated press releases, financial disclosures, and strategic partnership announcements. Our aggregation includes earnings reports, leadership changes, technological advancements, and content distribution developments relevant to Audacy’s position in the media landscape.
Key updates cover advertising solutions, digital platform expansions, and regulatory filings. All content is verified for accuracy and presented in chronological order to facilitate efficient research. Bookmark this page for streamlined access to Audacy’s evolving story within the competitive audio entertainment sector.
Audacy (OTC: AUDAQ) reported strong financial results for Q2 2024. Adjusted EBITDA rose 116% year-over-year to $31.1 million, driven by low-teen growth in digital advertising and high single-digit growth in network radio. Net revenues increased by 1% to $301.6 million, despite a 3% decrease in total radio revenues. Operating loss significantly improved to $3.0 million from $135.3 million in Q2 2023. For the first half of 2024, Adjusted EBITDA surged 128% to $40.7 million. Cash operating expenses fell 5% to $270.5 million. The company is awaiting FCC approval for its reorganization plan, which would reduce debt by 80%. Liquidity stood at $126.5 million as of June 30, 2024. Audacy's third quarter is pacing up low single digits, with digital revenue expected to grow mid-teens. The company is also seeing growth in its streaming platform and exclusive podcast content, enhancing its market position.
Audacy, Inc. (OTC: AUDAQ) reported a solid start to 2024 with a 173% increase in Q1 adjusted EBITDA. The company's total revenue market share grew, and digital revenues saw a significant acceleration in growth. Despite total radio revenues decreasing, expenses were reduced, resulting in an operating loss of $0.4 million. Recent developments include strong radio ratings growth, streaming performance, podcasting updates, technology advancements, and restructuring plans to reduce debt by 80%. Audacy is focused on becoming a scaled leader in the audio market with a strong balance sheet and premium content offerings.
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