comScore Inc

Comscore had another bad quarter with its second-quarter revenues of $87.7 million, down from $88.6 million last year.The company’s core Ratings and Planning revenues dropped by $1.4 million as compared to the same period of last year and their syndicated digital revenues were also lower on account of weak international business. The share of TV revenues as a part of the total top-line grew on account of the slowness in the syndicated digital business. The company’s relatively smaller Analytics and Optimization segment performed well and delivered $17.8 million revenues in the second quarter, up from $16.9 million compared to the same quarter of 2020. Inflationary pressures did weigh upon Comscore with indirect costs going up and its net loss widened to a level as high as $18.5 million compared to $10.4 million in 2020. The company’s adjusted EBITDA shrank to $2.6 million compared to $9.2 million for the same period last year. With no significant short term catalysts in sight, we give the company a ‘Hold rating with a revised target price.