Comscore reported a narrower loss in the first quarter.
The company also announced a deal with LiveRamp to provide addressable TV and cross platform measurement.
Comscore registered a net loss of $13.2 million, or 19 cents a share, compared to a loss of $27.5 million, or 46 cents a share, a year ago. The current quarter loss includes a $4.7 million impairment charge for property leases.
Revenue fell to $89.5 million from $102.3 million a year ago.
Comscore withdrew its 2020 financial forecast in light of the uncertainty caused by the COVID-19 pandemic.
National TV revenue was lower, but local TV revenue was up as it gained new customers in 2019. Comscore’s addressable TV and OTT also increased.
"We entered the year with great momentum, initiating and renewing business partnerships across the media landscape and positioning Comscore for success in 2020 and beyond,” said CEO Bill Livek.
“ While revenue was lower than anticipated, partly due to effects from the pandemic in the final weeks of the quarter, our first quarter results reflect progress in product development and operational improvements. We launched new products and continued to effectively manage expenses, driving strong adjusted EBITDA growth," he said. "While the economic climate has drastically changed in the past few months, we remain confident in our long-term opportunities and strategy . . . given these unprecedented times, we have and will take additional short-term actions to contain expenses and improve our operating cash flow, including temporary reductions in compensation, limited furloughs, and other administrative expense reductions.”
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.
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