comScore Loss Widens to $56M in 2nd Quarter - Broadcasting & Cable

comScore Loss Widens to $56M in 2nd Quarter

Revenue up 2%
Author:
Publish date:

Measurement company comScore announced that its losses widened in the second-quarter.

comscore-logo

comScore earlier this year emerged from a lengthy re-audit of its financials after account issues popped up three years ago.

During that period, the company was not able to release earnings information and was delisted from the NASDAQ stock exchange. The re-audit contributed to losses, the departure of key executives and delays in releasing product.

Related: Nielsen Launches Review of Buy-Side Segment

In the second-quarter, comScore said its net loss was $56 million, or $1.02 per share, compared to $38.6 million, or $67 cent share a year ago.

Excluding $23 million in equity awards to employees, directors and consultants, a charge of $5.3 million to conclude litigation, a restructuring charge of $3.8 million and other items, the company had an adjusted loss of $17.5 million, compared to a $19.4 million a year ago.

Revenue rose 2% to $101.4 million including $1.9 million from a change in how certain contracts are accounted for.

The company said that revenue for its digital audience product was down 8%. TV and cross-platform revenue rose 16%. Advertising product revenue increase 12%.

On Thursday, comScore announced a deal to using Inscape smart TV data to help clients measure the effectiveness of ad campaigns.

Last month the company said it had lined up networks to test its Campaign Ratings, which is designed to measure unduplicated viewing of ads across TV, over-the-top, desktop video and mobile.

Related