Welcome to our dedicated page for Entravision Communication news (Ticker: $EVC), a resource for investors and traders seeking the latest updates and insights on Entravision Communication stock.
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Entravision Communications (NYSE: EVC) reported its financial results for the first quarter of 2024, declaring a quarterly cash dividend of $0.05 per share payable on June 28, 2024. The company is adjusting its digital strategy due to Meta winding down its authorized sales partner program. Despite the challenges, Entravision remains confident in its long-term opportunities and is focused on maximizing political revenue, providing quality content, and enhancing its programmatic ad platform, Smadex.
Financially, the company saw a 16% increase in net revenue, driven by growth in digital and political advertising revenue. However, there was a decline in consolidated EBITDA by 65% compared to the previous year. The company's balance sheet shows cash and marketable securities of $132.7 million, with total debt of $200.1 million.
Entravision Communications has announced the launch of the 'Poder Latino' concert series, a unique initiative aimed at mobilizing and informing the Latino community through music, entertainment, and community engagement. Partnering with Mi Familia en Acción, the series will focus on empowering and uniting Latino voters and promoting civic engagement. With ten concert events across six major Latino markets, featuring top-tier talent, the series kicks off on May 2 in Phoenix, Arizona.
