Entravision Reports Y2Y Revenue Jumped 295 Percent

Entravision Communications Corporation Thursday announced financial results for the three- and six-month periods ended June 30, 2021.

Second Quarter 2021 Highlights

• Net revenue up 295% over the prior-year period
• Net income attributable to common stockholders up 236% over the prior-year period
• Consolidated Adjusted EBITDA up 932% over the prior-year period
• Operating cash flow up 181% over the prior-year period
• Free cash flow of $12.4 million compared to a loss of $1.4 million in the prior-year period
• Quarterly cash dividend of $0.025 per share

“Entravision had a strong second quarter of 2021 and an even stronger first half of the year. Net revenues for the second quarter improved 295% as compared to the prior-year period, while Adjusted EBITDA increased 932% year-over-year,” said Walter F. Ulloa, Chairman and Chief Executive Officer. “Growth in the quarter was largely driven by our digital business, which is now our largest segment, currently at 73% of consolidated revenues. Our core television and audio businesses also saw sequential and year-over-year revenue improvements, bolstering our overall performance.

"Net revenue for the six-month period of 2021 totaled $327.3 million, up 199% from $109.4 million in the prior-year period. Of the overall increase, approximately $207.0 million was attributable to our digital segment and was primarily due to our acquisition of a majority interest in Cisneros Interactive during the fourth quarter of 2020." 

Ulloa continued, “Our digital segment continues to represent a significant part of the growth of our business. Right after the end of the second quarter we acquired MediaDonuts, a company engaged in the sale and marketing of digital advertising in Southeast Asia. Through the acquisition of MediaDonuts, along with our acquisition of a majority interest in Cisneros Interactive during the fourth quarter of 2020, we have now added two digital powerhouses to our platform whose combined leadership, sales, operations and geographic reach further propel our core digital offerings and position us to partner with the world’s leading technology and social platforms."