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PURCHASE, N.Y. -On Monday, Townsquare Media, Inc. (NYSE:TSQ) reported fourth-quarter earnings that beat analyst expectations.
The company’s shares were up 1.93% in premarket trading following the release.
The digital media and radio company posted adjusted earnings per share of $0.60, topping the consensus estimate of $0.57. Revenue came in at $117.81 million, slightly below the $118.05 million analysts were expecting but up 2.6% YoY.
Townsquare’s digital segments performed strongly in Q4, with Digital Advertising net revenue increasing 15.5% YoY to $42.07 million. Total (EPA:TTEF) Digital net revenue, which includes the company’s Subscription Digital Marketing Solutions business, rose 10.8% to $61.57 million and represented 52% of total net revenue.
"Digital is and will continue to be Townsquare’s growth engine," said CEO Bill Wilson. He noted the company’s digital segments ended the year on a "very strong note."
Broadcast Advertising net revenue declined 4.1% YoY to $55.55 million, which the company said was in line with expectations.
For Q1 2025, Townsquare expects net revenue between $98 million and $100 million, and adjusted EBITDA of $17 million to $18 million.
The company also announced a quarterly dividend of $0.20 per share, payable on May 1, representing a 1.3% increase from the prior dividend.
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