comScore Sees FY24 Revenue $375M-$390M Vs $379.13M Est.; Expect Revenue In Q2 2024 To Be Lower Than In Q2 2023, With Revenue Growth Building In The Back Half Of The Year As Revenue From Our Proximic And CCR Products Continues To Ramp
Portfolio Pulse from Benzinga Newsdesk
comScore projects FY24 revenue to be between $375M-$390M, aligning with estimates. Q2 2024 revenue is expected to be lower than Q2 2023, with growth anticipated in the latter half of the year driven by Proximic and CCR products. The company maintains its adjusted EBITDA margin forecast between 12%-15%, despite pressures on national TV revenue and unpredictable demand for custom digital products due to macroeconomic factors. comScore cites inability to provide GAAP net income forecasts due to uncertainties in predicting future expenses and potential material impacts.
May 07, 2024 | 8:27 pm
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NEUTRAL IMPACT
comScore anticipates FY24 revenue between $375M-$390M, with a temporary dip in Q2 2024 but recovery in the second half, driven by Proximic and CCR products.
The guidance provided by comScore indicates a stable outlook for FY24, with expected revenue aligning with estimates. The anticipated dip in Q2 2024 revenue, followed by a recovery, suggests a neutral to slightly positive impact on the stock in the short term. The company's focus on growing its Proximic and CCR products could bolster investor confidence, mitigating concerns over the temporary revenue dip and pressures on national TV revenue.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100