Comscore reported a larger loss in the second quarter as revenue at the struggling measurement company declined.
The company’s net loss was $279.5 million, or $4.61 per share, compared to $56 million, or $1.02 per share, a year ago. The loss included non-cash impairment charges of $241.6 million.
Revenue fell 4.4% to $96.9 million.
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Ratings and Planning revenue decreased slightly to $68.9 million. The company said there was a decline in syndicated digital products, while revenue from TV and cross-platform product increased.
Analytics and Optimization revenue fell to $17.3 million from $20.5 million a year ago. Lower digital custom marketing solution sales was the reason for the decline.
During the quarter the company recorded a $5 million liability related to the previously disclosed SEC investigation.
Accounting issues cropped up in Comscore’s financial reports in 2016, leading to a lengthy, costly and distracting re-audit. In the years following, the company went through management turnover and its stock was temporarily delisted.
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.
