Hispanic specialist Entravision enjoyed increases in net revenue and increased profits – crediting a healthy dose of political income plus increased retransmission fees as a big reason.
Net income was up 8% to $54.491M; EBITDA was up 17% to $18.257M; and free cash flow was up 45% to $7.22M.
Commenting on the Company’s earnings results, Walter F. Ulloa, Chairman and Chief Executive Officer, said, “During the second quarter, we achieved revenue growth primarily driven by an increase in core television advertising, political advertising and an increase in retransmission consent revenue. In addition, our television segment benefited from revenue growth generated from a more diversified base of advertising categories.”
Looking ahead, Ulloa commented, “Our audience shares remain strong in the nation’s most densely populated Hispanic markets, and we believe we are well positioned to benefit as the U.S. Hispanic market continues to expand and advertisers increasingly recognize the importance of reaching our target audience.”
