Revenue Down but Profits in Sight for Comscore

Comscore has reported an 8% drop in second quarter revenue to $88.6m, but also a strong move towards profitability. Net loss was $10.4m, compared to a $279m loss in Q2 2019; while adjusted EBITDA was $9.2m, against a loss of $3.2m a year ago.

By sector, Q2 Movies revenue fell to $7.9m from $10.7m in the prior year, primarily due to pandemic-related closure of movie theaters. Ratings and Planning revenue was $63.8m in the second quarter of 2020, down from $68.9m a year earlier - largely driven by lower revenue from syndicated digital, and partially offset by higher Local TV and Addressable TV revenue. National TV revenue was consistent with the second quarter of last year, but higher than the first quarter of 2020, and Analytics and Optimization revenue was $16.9m in in the second quarter of 2020, compared to $17.3m in Q2 2019 - primarily due to lower Activation revenue from reduced ad spend in the quarter.

For the group, total expenses from cost of revenues, sales and marketing, research and development and general and administrative were $84.5m, down from $109.1m a year earlier, with a 'significant reduction' in compensation expense due to lower headcount, as well as lower facility costs, professional fees and other general operating expenses.

Bill Livek (pictured), CEO and Executive Vice Chairman, said the firm's strategic review had progressed during the second quarter, and the business is now in active discussions regarding strategic alternatives to maximize long-term shareholder value. 'We look forward to updating our stakeholders when appropriate', Livek added.

Web site: www.comscore.com .