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SALM - Salem Media Group (SALM) - 2000 Mules Boost Quarterly Results
Salem Media Group Inc.
Overachieves Q2 estimates. While total company revenues of $68.7 million were in line with our $68.8 million estimate, adj. EBITDA overachieved estimates, $11.7 million versus our $7.3 million estimate. Adj. EBITDA, which increased 33%, benefited from a $3.3 million revenue share from the successful movie launch of 2000 Mules. Political advertising off the charts. The company generated $1.5 million in Political advertising in the latest quarter, far outpacing its highest Political year in 2020. Read More >>