Net loss for Comscore in Q3

The net loss compared with a net income of $2.6m in the same quarter last year, with Comscore blaming a non-cash goodwill impairment charge of $63m.

Revenue in the third quarter was $88.5m, down 2.8% from $91m in the same period in 2023.

Comscore said revenue from its content and ad measurement division was flat compared with the prior-year quarter, with lower revenue from its syndicated audience offer offset by an increase in its cross-platform revenue, which grew 33.5% from 2023.

The research and insight solutions division saw revenue slide 14.2% from the third quarter of 2023, primarily due to lower deliveries of certain custom digital products.

Core operating expenses, which included cost of revenues, sales and marketing, research and development and general and administrative expenses, were $82.9m, a decrease of 3.9% compared with $86.3m in the same quarter in 2023, primarily due to a decline in employee compensation and lower cloud computing costs.

Based on current trends and expectations, Comscore said it expected revenue to be between $351m and $355m for the year, anticipated a return to growth in 2025.

 Jon Carpenter, chief executive officer at Comscore, said: “In the third quarter, we took meaningful steps forward in our cross-platform business, with our revenue in this area growing nearly 34% year-over-year and underpinning several key wins in the market,.

“As we look ahead to Q4 and into 2025, I’m confident we will continue to make progress in our transformation, positioning us to become the industry’s leading source for cross-platform audience planning and measurement.”