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Comscore Narrows Loss; Strategic Review Continues

(Image credit: Comscore)

Comscore said it narrowed its losses in the second quarter and continues a review that could lead to the company adopting strategic alternatives, including selling some or all of its businesses.

Comscore’s net loss for the second quarter was $10.4 million, or 15 cents a share, compared to a $279 million loss, or $4.61 a share, a year ago. The company said that earnings before interest, taxes, depreciation and amortization turned positive at $9.2 million compared to a loss of $3.2 million a year ago

Revenue fell 8% to $88.6 million from $96.6 million, but the company said it saw growth in its TV and addressable business.

Ratings and planning revenue slipped to $63.8 million from $68.9 million a year ago. National TV revenue was flat compared to a year ago, but up from Q1, due in part to Comscore’s agreement to work with LiveRamp.

"During the second quarter, we made strides in many areas of our business, positioning Comscore for success in the second half of 2020 and beyond. While the pandemic impacted our revenue for the quarter, particularly in our movies and digital businesses, our TV and Analytics businesses performed well. We effectively managed expenses, which drove adjusted EBITDA to its highest level since 2016," said CEO Bill Livek. "This quarter, we also celebrated a milestone 1,000th TV station client, a testament to how our television measurement and advanced demographic solutions add media planning value for our customers."

Livek noted that Comscore’s strategic review made progress during the quarter.

"Our strategic review progressed during the second quarter," he said. "Despite some delay from the pandemic and related closures, we have conducted a fulsome process and are in active discussions regarding strategic alternatives to maximize long-term shareholder value. We look forward to updating our stakeholders when appropriate."