comScore Revises FY24 Revenue Guidance To $350M-$360M Vs $372.04M Est.; Co Expects Revenue In Q3 2024 To Be Down 4%-6% From Q3 2023
Portfolio Pulse from Benzinga Newsdesk
comScore has revised its FY24 revenue guidance to $350M-$360M, down from the previous estimate of $372.04M. The company expects Q3 2024 revenue to decline by 4%-6% compared to Q3 2023, citing challenges in legacy media channels and unpredictable demand for custom digital products. However, comScore anticipates a return to growth in 2025 with investments in Proximic and CCR products.
August 06, 2024 | 9:42 pm
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comScore has revised its FY24 revenue guidance to $350M-$360M, down from the previous estimate of $372.04M. The company expects Q3 2024 revenue to decline by 4%-6% compared to Q3 2023, citing challenges in legacy media channels and unpredictable demand for custom digital products. However, comScore anticipates a return to growth in 2025 with investments in Proximic and CCR products.
The downward revision in revenue guidance and expected decline in Q3 2024 revenue are likely to negatively impact comScore's stock price in the short term. Investors may react unfavorably to the lower-than-expected revenue figures. However, the company's anticipation of a return to growth in 2025 with investments in Proximic and CCR products may provide some long-term optimism.
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