Salem Media Q1 2023: Revenue up 1.4% to $63.5M, net loss $5.2M, Q2 revenue guidance down 5-7%

SALEM MEDIA GROUP, INC. /DE/

2023-Q1 EPS reported -$0.19 vs consensus -$0.13 ▼ miss (-51.0%)

Total revenue $63.5M (+1.4% YoY); net loss $5.2M ($0.19/share) vs. net income $1.7M a year ago.
Operating loss $4.2M (vs. income $5.0M in Q1 2022); EBITDA turned negative to $(0.6)M.
Broadcast SOI down 46.4% to $5.5M; Digital Media Operating Income down 17% to $1.5M.
Q2 2023 revenue expected to decline 5-7% YoY; operating expenses to increase 3-6%.
Impairment of $2.1M on broadcast license for Miami station WMYM-AM; also closed several acquisitions.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SALEM MEDIA GROUP, INC. /DE/ reported the three months ended March 31, 2023 results: revenue $63.5 million, net income net loss of $5.2 million, or $0.19 net loss per share, EPS $0.19 net loss per share.

Period: the three months ended March 31, 2023
Revenue: $63.5 million
Net income: net loss of $5.2 million, or $0.19 net loss per share
EPS: $0.19 net loss per share
Result: reported results

Exact text from the filing

of operations for the quarter ended March 31, 2023. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 SALEM MEDIA GROUP, INC. ANNOUNCES FIRST QUARTER 2023 TOTAL REVENUE OF $63.5 MILLION IRVING, TX May 9, 2023 – Salem Media Group, Inc. (the “company”) (Nasdaq: SALM) released its results for the three months ended March 31, 2023. First Quarter 2023 Results For the

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Source: SEC EDGAR

accession 0001193125-23-139415

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