Entravision’s Q2 earnings results were released just before RBR+TVBR’s Thursday afternoon news deadline. We took a peek, and the multimedia company targeting Hispanic consumers had a strong quarter.
Revenue was up, and so was net income. Why? It’s thanks to digital, CEO Walter Ulloa notes.
“During the second quarter, we achieved revenue growth driven by increases in our digital media segment,” he said.
The digital media segment offsets a decrease in Entravision’s television segment of 3%, to $36.5 million, and flat growth for its radio segment of $17.2 million — results that are not surprising and continue trends that point to Entravision as a programmatic ad player in the U.S. Hispanic market.
“We continued to build our digital footprint through our acquisition of Smadex, a digital advertising technology company, while implementing steps to more efficiently align operations and reduce costs,” Ulloa said. “Looking ahead, we remain well positioned to build on our success in further attracting Latino and other audiences worldwide, and expanding our advertiser base to the benefit of our shareholders.”
Free cash flow was improved from Q2 2017—to $8.7 million from $5.6 million.
Consolidated adjusted EBITDA was $14.87 million, down from $14.9 million in Q2 ’17.
In addition to announcing a net revenue gain of 5%, to $74.3 million, and net income of $4.8 million — a 38% improvement from Q2 2017, Entravision announced that its Board of Directors has approved a quarterly cash dividend to shareholders of $0.05 per share of the company’s Class A, Class B and Class U common stock, in an aggregate amount of approximately $4.5 million. The quarterly dividend will be payable on September 28, to shareholders of record as of the close of business on Sept. 14. Entravisoin common stock will trade ex-dividend on September 13.