Comscore reported charges against earnings that resulted in the company posting a second-quarter net loss.
Revenue for the quarter was up 2.5% to $93.7 million.
The net loss was $48.8 million, or 51 cents a share, compared to an $8.9 million loss, or 10 cents a share, a year ago. The loss included a non-cash goodwill impairment charge of $44.1 million and restructuring costs of $4.1 million.
Adjusted earnings before interest, taxes, dividends and amortization rose 35% to $8.8 million, the company said.
Cross Platform Solutions revenue was up 3.1% from Q2 2022, with double-digit growth in local TV. Digital Ad Solutions revenue was up 2% from Q2 2022, primarily due to increased usage of the company’s Activation product.
“The second quarter that we're announcing today represents meaningful progress as we remain focused on becoming a more profitable, scalable and nimble organization,” CEO Jon Carpenter said.
“We saw strength in our digital business and particularly in Proximic, our activation business,” Carpenter said. “Leaning into our digital heritage and unique scale and granularity, in ways that only Comscore can, we believe we can solve some of the inefficiencies in measurement that media companies and advertisers have tolerated for too long. We are intent on making audience data and measurement actionable for a cross-platform and cookieless world. While there is much work to do, I am confident that the focus and execution we demonstrated in the second quarter will drive us forward as we move into the back half of 2023.”
