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Comscore Cuts First Quarter Net Loss to $9.3 Million

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(Image credit: Comscore)

Comscore cut its losses in the first quarter as its TV measurement business grew.

The company said its first quarter net loss was $9.3 million, or 14 cents a share, compared to a $36 million loss, or 49 cents a share, a year ago.

Adjusted EBITDA rose to $6.8 million from $5.6 million.

Revenues increased 4% to $94 million from $90.3 million a year ago.

Revenues from cross platform solutions rose 9.5% to $40.8 million. That includes $6.8 million in revenue from Comscore’s movie business, which is down from $8.2 million a year ago. 

The company’s digital ad solutions generated $53.1 million in revenue, up 0.2%.

Comscore affirmed its guidance that revenue will increase by mid- to high-single digits for 2022 and that adjusted EBITDA margin will be consistent with last year.

Comscore noted that the Media Rating Council audit of its local and national television measurement products is underway.

"This was another solid quarter of year-over-year growth for Comscore. I am proud of the progress we are making across all our lines of business,” said CEO Bill Livek

“As the measurement landscape evolves, Comscore remains focused on delivering superior products that drive the best outcomes for our clients. Throughout the quarter we continued to sign new clients and renewed long-standing currency relationships with industry-leading companies. There continues to be a tremendous opportunity for Comscore as it positions itself as the leading cross-platform currency, which we expect will continue to drive revenue growth throughout 2022,” Livek said. ■

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.