Audacy Reports Second Quarter Results
Audacy (AUD)
Company Research
Source: Business Wire
Second Quarter Net Revenues Increased 5% PHILADELPHIA--(BUSINESS WIRE)--Audacy, Inc. (NYSE: AUD) today reported financial results for the quarter ended June 30, 2022.David J. Field, Chairman, President and Chief Executive Officer, stated: “After a very strong first quarter in which we grew revenues by 14% and significantly increased margin, our second quarter results were adversely impacted by declining macroeconomic conditions and ad market headwinds which reduced our top line growth to 5%. While we navigate the turbulent current market conditions, we are excited by our future growth potential across our scaled, multi-platform businesses, capitalizing on a number of important recent developments that include an enhanced national sales organization, expanded podcast and streaming audio networks, and during the second half of this year, the rollout of a new, reimagined digital platform and ad tech capabilities that will enable us to unlock pools of ad demand and supply that we can't
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