Profitable Quarter for Comscore

Comscore has reported revenue up 5% to $92.5m and adjusted EBITDA of $11.3m, up 55%, for the third quarter of 2021. Net income was $2.0m, compared with a net loss of $11.1m a year earlier.

Analytics and Optimization was the growth engine, with revenue up 29% to $22.5m: 'all' product offerings contributed, including Activation (up 38%), custom solutions, Lift and Survey. Ratings and Planning saw revenue of $62.1m, down 1% from $62.7m in Q3 2020; while Movies Reporting and Analytics revenue was up 1% to $7.9m, with a steady increase now expected as theaters reopen. The Ratings and Planning figures were the result of lower syndicated digital and cross-platform audience products offset by higher TV revenue - the latter driven by new partnerships and increased agency use.

EBITDA improvement was driven by higher revenue and favorable foreign exchange rates, partially offset by higher data costs and professional fees.

CEO and Executive Vice Chairman Bill Livek comments: 'This was a strong quarter for Comscore as we reported our highest revenue number in seven quarters and our highest revenue growth rates in eleven quarters. We also reported adjusted EBITDA at a level we haven't seen in many years. There are significant changes taking place in media measurement and Comscore is front and center'.

The company reaffirmed its revenue and adjusted EBITDA guidance for the full year, forecasting revenue growth 'on the lower end of the 3% to 5% range' over 2020, and targeting adjusted EBITDA margin of 6% to 8%. Longer-term, Comscore is well-placed to capitalise on Nielsen's recent wobble: an MRC audit for Local and National Television measurement is officially underway, and Livek comments: 'There is a tremendous opportunity for Comscore as it positions itself as the new currency, which we expect will continue to drive revenue growth in the fourth quarter of 2021 and into 2022'.

Web site: www.comscore.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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