Urban One, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 05, 2022 at 06:45 am EDT
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Urban One, Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was USD 112.35 million compared to USD 91.44 million a year ago. Net income was USD 16.37 million compared to USD 0.007 million a year ago.
Urban One, Inc. is an urban-oriented, multi-media company. The Companyâs core business is its radio broadcasting franchise, which is a radio broadcasting operation that primarily targets African American and urban listeners. The Company operates through four segments: Radio Broadcasting, Cable Television, Reach Media, and Digital. The Radio Broadcasting segment consists of all broadcast results of operations. The Reach Media segment consists of the results of operations for the related activities and operations of its syndicated shows. The Digital segment includes the results of its online business, including the operations of Interactive One, as well as the digital components of its other segments. The Cable Television segment consists of the Companyâs cable television (TV) operation, including the results of operations of TV One and CLEO TV. The Company owns and/or operates over 66 independently formatted broadcast stations located in 13 African American markets in the United States.