Townsquare Announces Second Quarter Results

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Go back to Townsquare Announces Second Quarter Results

Townsquare Media (TSQ) Misses Q2 EPS by 4c

August 10, 2020 7:07 AM EDT

Townsquare Media (NYSE: TSQ) reported Q2 EPS of ($0.40), $0.04 worse than the analyst estimate of ($0.36).

"As expected, our second quarter financial results were significantly impacted by the COVID-19 pandemic, with net revenue and Adjusted EBITDA declining 34.5% and 93.1%, respectively, as compared to the prior year. However, we experienced sequential improvement in our Advertising net revenue throughout the quarter, which together with our Live Events net revenue has experienced the brunt of the negative business impact. By the end of the second quarter, Advertising net revenue had materially improved, from -42.1% in April to -29.6% in... More