Salem Media Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 09:14 pm
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Salem Media Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 65.77 million compared to USD 68.68 million a year ago. Net loss was USD 7.09 million compared to net income of USD 9.12 million a year ago. Basic loss per share from continuing operations was USD 0.26 compared to basic earnings per share from continuing operations of USD 0.33 a year ago. Diluted loss per share from continuing operations was USD 0.26 compared to diluted earnings per share from continuing operations of USD 0.33 a year ago.
For the six months, revenue was USD 129.26 million compared to USD 131.29 million a year ago. Net loss was USD 12.25 million compared to net income of USD 10.86 million a year ago. Basic loss per share from continuing operations was USD 0.45 compared to basic earnings per share from continuing operations of USD 0.39 a year ago. Diluted loss per share from continuing operations was USD 0.45 compared to diluted earnings per share from continuing operations of USD 0.39 a year ago.
Salem Media Group, Inc. is a domestic multimedia company specializing in Christian and conservative content, with media properties comprising radio broadcasting, digital media, and publishing. Its segments include Broadcast, Digital Media and Publishing. The Broadcast segment is engaged in the business of radio broadcasting, which includes the ownership and operation of radio stations in metropolitan markets. The Digital Media segment provides Christian, conservative, investing content, audio and video streaming, and other resources digitally through the Web. It operates two businesses in its book publishing segment: Regnery Publishing and Salem Author Services. Regnery Publishing is a traditional book publisher. The books are sold in traditional printed form and as eBooks, such as Regnery Political, Regnery History, Regnery Kids, Gateway Editions and Salem Books. Salem Author Services is a self-publishing service for authors through two imprints: Xulon Press and Mill City Press.