Steady Performance for Comscore

Comscore has reported financial results for the fourth quarter and calendar year 2022, with annual revenue up 2.7% to $376.4m, and adjusted EBITDA up 16% to $37.0m.

The company recorded a net loss of $66.6m, compared to $50.0 million in 2021 - the result mainly of a non-cash goodwill impairment charge of $46.3m, almost three times higher than a similar charge a year earlier. Revenue for the fourth quarter was up just 1.8% to $98.2m, with adjusted EBITDA static at $12.0m ($12.4m a year earlier) - the latter helped by a $5m (5.4%) reduction in core operating expenses.

Growth was driven by double-digit growth in Cross Platform Solutions revenue from local and national TV measurement and the continued rebound in the firm's Movies business post-Covid. Within Cross Platform Solutions, local and national TV revenue grew 25.7% and 12.6% respectively, while Digital Ad Solutions revenue from 2021 declined along with global ad spend, which Comscore says 'impacted Activation and other digital products'.

CEO Jon Carpenter says it was 'a year of major change' for the company, with an emphasis on 'speed, execution and profitability', and singled out the launch of local television data service TV Pulse, and the Total Digital user interface giving a combined view of the firm's digital and social data. He concludes: 'As the company that provides the most complete view of audiences for both content and ads, I believe we are well positioned for continued success'.

Web site: www.comscore.com .


Today's revenue announcement means the firm sits just outside MrWeb's RAIDAR top 40 firms - it will be added to an enlarged list during March.

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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