comScore Loss Widens to $56M in 2nd Quarter

Measurement company comScore announced that its losses widened in the second-quarter.

comScore earlier this year emerged from a lengthy re-audit of its financials after account issues popped up three years ago.

During that period, the company was not able to release earnings information and was delisted from the NASDAQ stock exchange. The re-audit contributed to losses, the departure of key executives and delays in releasing product.

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In the second-quarter, comScore said its net loss was $56 million, or $1.02 per share, compared to $38.6 million, or $67 cent share a year ago.

Excluding $23 million in equity awards to employees, directors and consultants, a charge of $5.3 million to conclude litigation, a restructuring charge of $3.8 million and other items, the company had an adjusted loss of $17.5 million, compared to a $19.4 million a year ago.

Revenue rose 2% to $101.4 million including $1.9 million from a change in how certain contracts are accounted for.

The company said that revenue for its digital audience product was down 8%. TV and cross-platform revenue rose 16%. Advertising product revenue increase 12%.

On Thursday, comScore announced a deal to using Inscape smart TV data to help clients measure the effectiveness of ad campaigns.

Last month the company said it had lined up networks to test its Campaign Ratings, which is designed to measure unduplicated viewing of ads across TV, over-the-top, desktop video and mobile.

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.