Townsquare Media (TSQ) Tops Q2 EPS by 9c, Revenues Beat

Townsquare Media (NYSE: TSQ) reported Q2 EPS of $0.38, $0.09 better than the analyst estimate of $0.29. Revenue for the quarter came in at $119.58 million versus the consensus estimate of $115.07 million.

"We are pleased to announce that our second quarter financial results exceeded our previously issued guidance, continuing the momentum we experienced in the first quarter of the year. In the first six months of 2018, net revenue increased 2.6%, and 2.2% excluding political revenue, and Adjusted EBITDA increased 6.6%," commented Bill Wilson, Co-Chief Executive Officer of Townsquare. "Our second quarter and year to date revenue growth was primarily the result of the continued stability in our broadcast products and the strong revenue growth of our digital solutions."

"Through internal reorganization and the divestiture of North American Midway Entertainment, we have concluded the strategic reset that we initiated in late 2017 and have largely reoriented the Company towards the stability, profitable growth, and cash generation of the advertising, marketing solutions, and live events businesses in our local market footprint," commented Dhruv Prasad, Co-Chief Executive Officer of Townsquare. "Our strong performance in the first half of this year reinforces that this was the right strategy, and we remain committed to this plan moving forward."

For earnings history and earnings-related data on Townsquare Media (TSQ) click here.

You May Also Be Interested In

• Nomura/Instinet Upgrades Genting Singapore (GENS:SP) (GIGNY) to Neutral
• RCM Technologies (RCMT) Tops Q2 EPS by 17c
• Tenon Medical (TNON) Misses Q2 EPS by 395c