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Jun 30, 2020
Entravision Q2 2020 Earnings Report
Announced a quarterly cash dividend and experienced declines in television, radio, and digital segments due to the COVID-19 pandemic.
Key Takeaways
Entravision Communications Corporation reported a decrease in net revenue for Q2 2020, impacted by the COVID-19 pandemic, resulting in declines across its television, radio, and digital segments. The company announced a quarterly cash dividend of $0.025 per share. Despite the revenue decline, Entravision maintains a solid balance sheet and is focused on cost reduction and operational efficiency.
Net revenue decreased by 35% compared to the same period last year, primarily due to declines in television, radio, and digital segments.
The company announced a quarterly cash dividend of $0.025 per share.
The decrease in local and national advertising revenue was primarily a result of the continuing economic crisis resulting from the COVID-19 pandemic, ratings declines and competitive factors.
Entravision is undertaking an extensive review of its business to align operations and reduce costs.
Entravision
Entravision
Forward Guidance
Entravision expects a sustained adverse impact in future periods due to the COVID-19 pandemic and the resulting economic crisis.