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Dec 31, 2023
Entravision Q4 2023 Earnings Report
Entravision's Q4 2023 results were impacted by the upcoming wind-down of Meta's ASP program, with the company initiating a review of its operating strategy and cost structure.
Key Takeaways
Entravision Communications Corporation reported its Q4 and full year 2023 financial results, highlighting an 8% increase in net revenue for the quarter, driven by growth in the digital segment, but a significant decrease in consolidated EBITDA due to increased costs. The company announced Meta's decision to wind down its ASP program, which is expected to impact future revenue. Despite this, Entravision is confident in its long-term opportunities and is taking steps to reinforce its operating foundation.
Net revenue increased by 8% to $320.1 million compared to Q4 2022, driven by growth in the digital segment.
Consolidated EBITDA decreased by 56% to $16.2 million compared to Q4 2022, impacted by increased costs.
Meta Platforms intends to wind down its ASP program by July 1, 2024, which represented approximately $23.8 million of the Company’s $57.7 million total consolidated EBITDA and $586.4 million of the Company’s $1,106.9 million of total consolidated revenue for full year 2023.
The company's Board of Directors approved a quarterly cash dividend of $0.05 per share, payable on March 29, 2024.
Forward Guidance
Entravision is conducting an extensive review of its strategy and cost structure to reinforce its operating foundation and ensure it is best positioned to capitalize on its global advertising, media and technology solutions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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