Townsquare Q2 2018 Earnings

Townsquare has reported Q1 2018 net revenues of $119.6 million, up $2.3 million from the same period last year. Net income was $1.6 million for the quarter, compared to $5.6 million last year. "Through internal reorganization and the divestiture of North American Midway Entertainment, we have concluded the strategic reset that we initiated in late 2017 and have largely reoriented the company towards the stability, profitable growth, and cash generation of the advertising, marketing solutions, and live events businesses in our local market footprint," says Co-CEO Dhruv Prasad. "Our strong performance in the first half of this year reinforces that this was the right strategy, and we remain committed to this plan moving forward." More here.