The Fly

Comscore reports Q3 EPS (60c), consensus (10c)

Reports Q3 revenue $92.8M, consensus $95.89M. "Due in part to a decline in our stock price and market capitalization, we performed an interim review of our goodwill at quarter-end, resulting in a non-cash goodwill impairment charge of $46.3M as of September 30, 2022. This charge does not directly impact the company’s liquidity, cash flows, or future operations. Primarily due to the goodwill impairment charge and restructuring costs, net loss for the quarter was $52.4 million, compared to net income of $2.0M in Q3 2021. After accounting for dividends on our convertible preferred stock, loss per share attributable to common shares was $(0.60), compared to a loss per share of $(0.02) in Q3 2021," the company said. "Since stepping into the CEO role in July, I’ve been laser focused on improving speed, execution and profitability. In the third quarter, we rounded out our executive team with leadership positions that I believe are critical to the success of Comscore. We committed to delivering faster data to our customers, and in September we rolled out our Comscore TV Pulse data with a delivery speed of 48 hours. We also announced a restructuring plan as a first step in becoming more cost efficient and better aligning our operating structure and resources to our strategic priorities. We continue to see momentum in our local and national television businesses, and even though the current economic environment is challenging for our industry, we are excited about what’s ahead for Comscore," said Jon Carpenter, CEO of Comscore.

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