Overview
- Entravision reported first-quarter revenue of about $197 million, up 114% year over year, and posted roughly $21 million in operating income after a loss a year ago.
- Shares surged in heavy trading, following Wednesday’s results, with the stock up about 82% intraday to $7.22 on the strong revenue beat and profit swing.
- Advertising Technology & Services led the quarter with roughly $155 million in revenue, up about 204%, and about $34 million in operating profit as growth outpaced higher cloud and sales costs.
- The Media unit grew revenue 4% to $42.4 million but widened its operating loss to about $5 million due to higher digital costs and early projects like Altavision and WAPA Orlando that are still ramping.
- The company declared a quarterly cash dividend of $0.05 per share payable June 30 to holders of record June 16 and said it repaid $5 million on its bank term loan during the quarter.