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Wednesday November 6, 2019
Townsquare Media Inc (TSQ)
Scores Another Good Quarter
Townsquare Media Inc is an entertainment and media company offering digital marketing solutions in the United States and Canada. It owns and operates radio stations, social media properties focusing the small and mid-cap companies. Services offered to the clients include live events, local advertising, digital advertising, e-commerce offerings, few others. The segments through which the company operates its businesses are classified into Local marketing solutions and Entertainment segments. Revenues are generated from commercials through broadcasts and sale of internet based advertisements.
Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to full report for price target, fundamental analysis and rating.
- Over delivers on the quarter. Third quarter revenues of $112.5 million was better than our $109.8 million estimate. Cash flow (adj. EBITDA) of $28.8 million was better than our $27.9 million estimate, as well. The results benefited from strong Digital revenues, up an impressive 25% in the quarter.
- Raised 2019 guidance. Revenue guidance was raised to the higher end of its previous range of $428 million to $430 million and…
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