Beasley Q2 net loss narrows to $0.3M; digital revenue up 5.7%, adjusted EBITDA rises 11.4%

BEASLEY BROADCAST GROUP INC

2024-Q2 EPS reported -$0.01 vs consensus -$0.61 ▲ beat (+98.4%)

Net revenue $60.4M, down 4.8% YoY; net loss $0.3M ($0.01/diluted share) vs $10.4M loss ($0.35) in Q2 2023.
Adjusted EBITDA $8.8M, +11.4% YoY; operating income $5.4M vs operating loss $4.5M (includes $10M impairment in 2023).
Digital revenue grew 5.7% to $13.0M (10.4% same-station); digital now 21.5% of total revenue.
Targeting $10M annualized expense savings; achieved ~$2M in Q2; new customer revenue up 16.5% YoY.
Generated $586K in political revenue; local revenue accounted for 72.8% of net revenue.

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