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Sep 30, 2021
Urban One Q3 2021 Earnings Report
Reported a strong third quarter with revenue and income growth.
Key Takeaways
Urban One reported a strong third quarter with net revenue increasing by 21.3% to $111.5 million compared to the same period in 2020. The company's operating income significantly improved to $34.5 million, and net income reached $13.9 million or $0.27 per share. Adjusted EBITDA also increased to $42.7 million.
Net revenue increased by 21.3% year-over-year to $111.5 million.
Operating income was $34.5 million, a significant increase from $4.0 million in the same period last year.
Net income was $13.9 million, or $0.27 per share, compared to a net loss of $12.8 million, or $0.29 per share, for the same period in 2020.
Adjusted EBITDA increased to $42.7 million from $39.6 million in the same period last year.
Forward Guidance
Urban One increased full year guidance to in the $140 - $145 million range, up from the mid $130s.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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