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Townsquare Media +9% on profit beat, launch of dividend

Published 03/13/2018, 02:31 PM
© Reuters.  Townsquare Media +9% on profit beat, launch of dividend
TSQ
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  • Townsquare Media (NYSE:TSQ) is 9% higher today on heavy volume after Q4 earnings where it edged profit expectations and initiated a quarterly cash dividend.
  • Operating income swung to a loss of $42.85M from a year-ago gain of $14.8M, inclusive of a goodwill impairment charge of $51.85M. Net loss was $27.1M, vs. a year-ago gain of $3.2M.
  • On an adjusted basis, net income fell to $3.89M from $4.83M.
  • The company declared a quarterly dividend of $0.075/share that "reflects confidence in our current capitalization, the strength of our balance sheet, our free cash flow generation, and our outlook for 2018," says co-CEO Dhruv Prasad.
  • Revenue by segment: Local Marketing Solutions, $91.65M (up 0.4%); Entertainment, $22.6M (down 17.4%).
  • Earnings call slides
  • Earnings call transcript
  • Press release
  • Now read: Townsquare Media 2017 Q4 - Results - Earnings Call Slides


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