Urban One, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
November 20, 2023 at 01:02 pm EST
Share
Urban One, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 129.65 million compared to USD 118.66 million a year ago. Net income was USD 70.37 million compared to USD 16.29 million a year ago. Basic earnings per share from continuing operations was USD 1.48 compared to USD 0.32 a year ago. Diluted earnings per share from continuing operations was USD 1.39 compared to USD 0.3 a year ago.
For the six months, sales was USD 239.52 million compared to USD 230.79 million a year ago. Net income was USD 67.44 million compared to USD 32.78 million a year ago. Basic earnings per share from continuing operations was USD 1.42 compared to USD 0.64 a year ago. Diluted earnings per share from continuing operations was USD 1.34 compared to USD 0.6 a year ago.
Urban One, Inc. is an urban-oriented, multi-media company. The Companyâs core business is its radio broadcasting franchise, which is a radio broadcasting operation that primarily targets African American and urban listeners. The Company operates through four segments: Radio Broadcasting, Cable Television, Reach Media, and Digital. The Radio Broadcasting segment consists of all broadcast results of operations. The Reach Media segment consists of the results of operations for the related activities and operations of its syndicated shows. The Digital segment includes the results of its online business, including the operations of Interactive One, as well as the digital components of its other segments. The Cable Television segment consists of the Companyâs cable television (TV) operation, including the results of operations of TV One and CLEO TV. The Company owns and/or operates over 66 independently formatted broadcast stations located in 13 African American markets in the United States.
URBAN ONE, INC. 
