Salem Media Group Q1 Total Revenue Up 5.5% to $62.6M

RADIO ONLINE | Tuesday, May 10, 2022

Salem Media Group

Salem Media Group reported first quarter total revenue increased 5.5% to $62.6 million from $59.4 million in 2021. Net broadcast revenue grew 10% to $48.4 million, while Digital media revenue rose 7.1% to $10.3 million. Operating income gained 14.2% to $5 million from $4.4 million, EBITDA increased 8.6% to $8.2 million and Adjusted EBITDA decreased 13.6% to $6.8 million. The company posted a net income of $1.7 million (6 cents per diluted share) as compared to $323,000 (1 cent) in the year-ago period.

For Q2 2022, the company is projecting total revenue to increase between 6% and 8% from Q2 2021's total revenue of $63.8 million. It's also projecting operating expenses to increase between 7% and 10% compared to Q2 2021's non-GAAP operating expenses of $55 million.