AUD - Audacy GAAP EPS of -$0.25 misses by $0.02 revenue of $259.6M beats by $1.05M
2023-05-10 08:30:37 ET
- Audacy press release ( NYSE: AUD ): Q1 GAAP EPS of -$0.25 misses by $0.02 .
- Revenue of $259.6M (-5.7% Y/Y) beats by $1.05M .
- Total operating expenses for the quarter were $271.8 million, which includes a gain on sale of $12.4 million and a non-cash impairment loss of $5.1 million, compared to $266.8 million in the first quarter of 2022, which included a gain on sale of $2.5 million and a non-cash impairment loss of $1.5 million
- Cash operating expenses were up 3% compared to the first quarter of 2022
- Operating loss for the quarter was $12.2 million, compared to operating income of $8.5 million in the first quarter of 2022
- Adjusted EBITDA for the quarter was $3.5 million, compared to $26.0 million in the first quarter of 2022
- As of March 31, 2023, the Company’s liquidity was $123.7 million
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Audacy GAAP EPS of -$0.25 misses by $0.02, revenue of $259.6M beats by $1.05M