Urban One is the next media company to present its first quarter earnings report. And, it hosts a conference call Wednesday at 10am Eastern to share its performance with analysts and shareholders.
RBR+TVBR will have full coverage of the company’s financial results in the afternoon headlines e-mail.
The company’s fourth quarter and full-year 2020 earnings were nothing short of spectacular. Net revenue in Q4 rose to $113.5 million, from $105.85 million a year earlier. At the same time, operating expenses on a consolidated basis fell to $79 million, from $93.79 million. This was driven by lower programming and technical expenses and lower selling, general and administrative expenses.
This resulted in an operating income gain in Q4 2020, jumping to $34.53 million from $12.06 million.