By all accounts, the second quarter of 2019 was a positive one for the company founded by Cathy Hughes and run by her son, Alfred Liggins III.
Net revenue for Urban One jumped 5.5%, to $121.6 million, while adjusted EBITDA increased to $41.1 million from $39 million in the quarter.
So, why was net income down sharply in the quarter? There’s an easy explanation: Bad comps due to a 2018 tax break.
