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Mar 31, 2021
Urban One Q1 2021 Earnings Report
Reported a decrease in revenue but an increase in operating income and net income compared to the same period last year.
Key Takeaways
Urban One reported a decrease in net revenue by 3.6%, but experienced a significant turnaround with operating income and net income compared to the same period in 2020. The company's digital business showed strong growth, while core radio advertising saw improvements towards the end of the quarter.
Net revenue decreased by 3.6% year-over-year to $91.4 million.
Operating income was $23.8 million, a significant improvement from an operating loss of $27.3 million in the same period last year.
Net income was $7,000 or $0.00 per share, compared to a net loss of $23.2 million or $0.51 per share in the same period last year.
Digital business revenues increased by 64.6%.
Forward Guidance
Urban One anticipates further sequential improvements in Q2.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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