Entravision reported on its conference call Thursday it had posted a fourth-quarter profit of $5.9 million, with cent-per-cent profit of $0.07, missing Wall Street estimates by about a cent. Revenue was $65.3 million in the quarter, and for the year reported a profit of $27.1 million. TV lagged, but radio and digital were very strong in the fourth quarter. CEO Walter Ulloa noted that, "Radio is pacing high in the single digits."
Radio revenue increased 5 percent in the fourth quarter, political being notably strong. For the overall year the radio division increased 4 percent. Local was down 3 percent over the same quarter last year, national increased 24 percent. For the year, local was flat and national increased 15 percent. Entravision's syndication venture, Entravision Solutions Audio Network, increased 22 percent for the fourth quarter, and was up 4 percent for the year. Entravision saw growth in five of its top 10 radio categories, with auto down 4 percent for the quarter and 2 percent for the year. The L.A. radio cluster's numbers were down 5 percent for the quarter. The first quarter trend for radio is pacing in the high single-digits.
Digital saw growth at Entravision, with digital now accounting for 5 percent of total revenue, up 58 percent. Ulloa noted on the conference call that, "Digital and mobile first is our mantra." Digital is pacing in the double digits in the first-quarter trends for Entravision.
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