Saga Communications has announced its second-quarter financial results, and the radio broadcaster saw a slight dip in revenue for the period.
During the three-month window, Saga saw its revenue fall from $29.18 million to $28.74 million, a decline of 1.5%.
Saga Communications has leaned heavily into the digital space by creating local news sites in many of its smaller markets. That helped the company’s bottom line as revenue grew 159% for the quarter, topping $344,000.
“Saga is moving full steam ahead with online news and local news and community sites in 18, soon to be 19 total markets once our newest acquisition, Lafayette, Indiana, is onboarded,” CEO Chris Forgy said.
Those new websites have also contributed to growing expenses, however. Operating costs rose 5.1% during the April, May, and June timeframe, up to $23.5 million.
For the total quarter, the company saw a net income of $2.5 million, down from $3.55 million during the same window in the previous year.
