comScore Inc ( (SCOR) ) has released its Q3 earnings. Here is a breakdown of the information comScore Inc presented to its investors.
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Comscore Inc. is a global company specializing in cross-platform media data measurement and analytics, serving as a trusted partner for planning, transacting, and evaluating media across various platforms.
For the third quarter of 2024, Comscore reported revenues of $88.5 million, a slight decline from $91.0 million in the same quarter last year. The company faced a significant net loss of $60.6 million, primarily due to a $63.0 million non-cash goodwill impairment charge.
Despite the financial challenges, Comscore’s cross-platform revenue grew by 34% year-over-year, reflecting the company’s strategic focus on expanding its cross-platform measurement capabilities. The adjusted EBITDA for the quarter stood at $10.1 million, down from $13.4 million in the previous year, while FX adjusted EBITDA showed a slight increase.
Moving forward, Comscore’s management remains optimistic about the company’s transformation and growth prospects. The company anticipates a return to growth in 2025 as it continues to invest in cross-platform measurement capabilities, aiming to strengthen its position as a leading source for audience planning and measurement.
