Audacy (AUD) Misses Q2 EPS by 5c

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Audacy Reports Second Quarter Results

August 5, 2022 8:00 AM EDT

Second Quarter Net Revenues Increased 5%

PHILADELPHIA--(BUSINESS WIRE)-- Audacy, Inc. (NYSE: AUD) today reported financial results for the quarter ended June 30, 2022.

David J. Field, Chairman, President and Chief Executive Officer, stated: After a very strong first quarter in which we grew revenues by 14% and significantly increased margin, our second quarter results were adversely impacted by declining macroeconomic conditions and ad market headwinds which reduced our top line growth to 5%. While we navigate the turbulent current market conditions, we are excited by our future growth potential across our scaled, multi-platform... More