Beasley Broadcast Group Reports Third Quarter Revenue Of $60.1 Million
NAPLES, Fla., Nov. 01, 2023 (GLOBE NEWSWIRE) -- Beasley Broadcast Group, Inc. (Nasdaq: BBGI) (“Beasley” or the “Company”), a multi-platform media company, today announced operating results for the three-month period ended September 30, 2023. For further information, the Company has posted a presentation to its website regarding the third quarter highlights and accomplishments that management will review on today’s conference call.
- Excluding the third quarter 2023 impairment losses of $88.8 million, Beasley would have reported operating income of $3.3 million in the third quarter of 2023 compared to operating income of $4.7 million in the third quarter of 2022.
- Excluding the third quarter 2023 impairment losses of $88.8 million, Beasley’s operating income was $3.3 million compared to operating income of $4.7 million in the third quarter of 2022.
- Adjusted EBITDA (a non-GAAP financial measure) was $5.5 million in the third quarter of 2023 compared to $7.2 million in the third quarter of 2022.
- “Similar to recent quarters, Beasley delivered strong digital revenue growth of 9.1% year-over-year, with digital revenue representing 18.6% of total third quarter revenue.