Audacy Share Pop On Q4 Beat Led By Digital, Spot Radio Momentum

February 23, 2022 12:34 PM | 1 min read |

Audacy Inc AUD reported fourth-quarter FY21 revenue growth of 8% year-on-year to $344.7 million, beating the consensus of $342.4 million.
Core spot revenues were $218.4 million, up 10% Y/Y. Digital revenues were $68.1 million, up 16% Y/Y.
Operating income for the quarter was $48.1 million, against an operating loss of $(204.8) million a year back.
EPS of $0.16 beat the consensus of $0.13.
Audacy held $59.4 million in cash and equivalents.
David J. Field, the CEO, stated: "Audacy's fourth-quarter revenues grew 8% over the prior year, 13% ex-political, led by double-digit growth in both digital and spot radio. Pandemic recovery continued as an increasing number of disrupted advertisers resumed spending."
Price Action: AUD shares traded higher by 23.9% at $2.52 on the last check Wednesday.

Posted In: Earnings News Penny Stocks Small Cap Movers Tech Trading Ideas Briefs why it's moving

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.