Spanish Broadcasting System, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 30, 2023 at 11:52 am EST
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Spanish Broadcasting System, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 35.01 million compared to USD 38.05 million a year ago. Net loss was USD 32.54 million compared to net income of USD 0.906 million a year ago.
For the nine months, sales was USD 105 million compared to USD 111.13 million a year ago. Net loss was USD 43.68 million compared to USD 3.35 million a year ago.
Spanish Broadcasting System, Inc. owns and operates radio stations located in the United States Hispanic markets of Los Angeles, New York, Puerto Rico, Chicago, Miami, San Francisco, Orlando, and Tampa, airing the Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40 and Urbano format genres. The Companyâs segments include radio and television. It operates AIRE Radio Networks, a national radio platform of over 290 affiliated stations. It also owns Mega TV, a network television operation with over-the-air, cable and satellite distribution and affiliates throughout the United States and Puerto Rico, produces a nationwide roster of live concerts and events, and owns a stable of digital properties, including LaMusica, a mobile application providing Latino-focused audio and video streaming content and HitzMaker, a performance showcase for trendsetting new artists and music aficionados. It also has various MegaTV broadcasting outlets under affiliation or programming agreements.
SPANISH BROADCASTING SYSTEM, INC. 
