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Comscore Posts $18.5 Million Net Loss for Second Quarter

Comscore reported a wider loss in the second quarter as revenues dropped.

The second quarter loss was $18.5 million, or 28 cents a share, compared to a loss of $10.4 million, or 15 cents a share, a year ago.

Revenue slid to $87.7 million from $88.6 million a year ago.

Comscore also said it expects full-year 2021 revenue and adjusted EBITDA margin to be at the lower end of previously announced ranges. The company said it signed several new contracts, but those deals were done later than expected, delaying the revenue impact.

The company said it expects those agreements to generate higher revenue over the long term.

Ratings and planning revenue was $62.4 million, down from $63.8 million a year ago as syndicated digital and cross-platform products dropped, offsetting TV revenue.

Analytics and optimization revenue was $17.8 million, up from $16.9 million.  

Movie reporting and analytics revenue was $7.5 million, down from $7.9 million a year ago, but up 10% from the first quarter as movie theaters began opening in the U.S.

Expenses were up to $92.3 million from $84.5 million partly because of higher data costs and professional fees.

"This quarter we saw solid performance in many areas of our business, signing many new customers that we expect to increase revenue in the second half of the year. With movie theaters beginning to reopen, we expect to see a healthy rebound in that business as well over the coming quarters," said CEO Bill Livek. "Some of these new contracts and partnerships didn't have a revenue impact in the second quarter but will start in the second half of the year. As a result, we remain confident in our ability to grow revenue as the year progresses."

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(Image credit: Comscore)

The second quarter loss was $18.5 million, or 28 cents a share, compared to a loss of $10.4 million, or 15 cents a share, a year ago.

Revenue slid to $87.7 million from $88.6 million a year ago.

Comscore also said it expects full-year 2021 revenue and adjusted EBITDA margin to be at the lower end of previously announced ranges. It said it signed several new contracts this year, but those deals were done later than expected, delaying the revenue impact.

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The company said it expects those agreements to generate higher revenue over the long term.

Ratings and planning revenue was $62.4 million in the second quarter, down from $63.8 million a year ago as syndicated digital and cross-platform products dropped, offsetting hither TV revenue.

Analytics and optimization revenue was $17.8 million, up from $16.9 million.

Movie reporting and analytics revenue was $7.5 million, down from $7.9 million a year ago, but up 10% from the first quarter as movie theaters began opening in the U.S.

Expenses were up to $92.3 million from $84.5 million partly because of higher data costs and professional fees.

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Also Read: d performance in many areas of our business, signing many new customers that we expect to increase revenue in the second half of the year. With movie theaters beginning to reopen, we expect to see a healthy rebound in that business as well over the coming quarters,” said CEO Bill Livek. “ Some of these new contracts and partnerships didn't have a revenue impact in the second quarter but will start in the second half of the year. As a result, we remain confident in our ability to grow revenue as the year progresses”

Jon Lafayette

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.