Cumulus Media has announced a net revenue of $236.7 million in the second quarter of 2022, a 5.4% increase over the same period in the previous year.
After posting a loss of $5.9 million in the second quarter of 2021, the company reported a net income of $8.7 million in the second quarter of this calendar year.
In the digital category, Cumulus reported a significant 20.3% increase to $37.8 million, while radio revenue was $127 million. That beat 2021 second-quarter numbers by 5.1%.
“Our ability to deliver yet another quarter of strong results is testament both to the quality of our strategic plan and the discipline and relentlessness with which we implement it,” CEO Mary Berner said.
“Given our track record, we have tremendous confidence in our ability, under this plan, to grow shareholder value,” she later added.
