Urban One, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
December 22, 2023 at 04:52 pm EST
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Urban One, 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 117.83 million compared to USD 121.25 million a year ago. Net loss was USD 54.41 million compared to net income of USD 3.47 million a year ago. Basic loss per share from continuing operations was USD 1.14 compared to basic earnings per share from continuing operations of USD 0.07 a year ago. Diluted loss per share from continuing operations was USD 1.14 compared to diluted earnings per share from continuing operations of USD 0.07 a year ago.
For the nine months, sales was USD 357.35 million compared to USD 352.04 million a year ago. Net income was USD 13.03 million compared to USD 36.25 million a year ago. Basic earnings per share from continuing operations was USD 0.27 compared to USD 0.73 a year ago. Diluted earnings per share from continuing operations was USD 0.26 compared to USD 0.68 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. 
