When it comes to net revenue and adjusted EBITDA, Townsquare Media exceeded its previously issued guidance in the first quarter of 2023. That said, against difficult comps, a net loss was registered as adjusted operating income fell by 6.4% and its adjusted net income also declined.
Importantly, the adjusted EPS Townsquare registered in Q1 beat the consensus estimate of the three financial analysts that track the “local first” broadcast media and digital advertising solutions company led by Bill Wilson.
The overall numbers were impacted by a significant non-cash impairment charge.
