Overview

* Beasley Q3 revenue falls 12.4% yr/yr to $51.0 mln, in line with guidance

* Company reports Q3 operating loss of $300,000, net loss of $3.6 mln

* Digital revenue rises 14.6% yr/yr, now 25% of total revenue

Outlook

* Company remains focused on strengthening balance sheet through planned asset sales

* Beasley sees sustained growth and record margins in digital business

* Company notes challenges in advertising demand, especially in agency channels

Result Drivers

* DIGITAL GROWTH - Digital revenue increased 14.6% yr/yr, now making up 25% of total revenue, driven by owned-and-operated products

* COST REDUCTION - Co reduced operating and corporate expenses by $15 mln year-to-date, improving efficiency

* ASSET SALES - Sale of WPBB-FM completed for $8.0 mln, with further sales pending FCC approval to strengthen balance sheet

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $51 mln

Revenue

Q3 EPS -$1.97

Q3 Net -$3.60

Income mln

Q3 -$300,00

Operatin 0

g Income

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)