What happened
Shares of Comscore (SCOR 2.12%) -- an advertising and consumer behavior information and analytics company -- fell sharply Tuesday. The stock declined as much as 25.8% today, and as of 12:35 p.m. EDT, shares were down about 22%.
The stock's decline followed the company's second-quarter earnings release, which featured lower-than-expected revenue and a wider-than-anticipated loss per share.
Image source: Getty Images.
So what
Comscore announced second-quarter revenue of $87.7 million. This was down from $88.6 million in the year-ago quarter. Analysts, on average, were expecting revenue of $90.9 million. The company's net loss widened from $10.4 million in the year-ago period to $18.5 million. On a per-share basis, this loss comes out to $0.28.
The weaker-than-expected results are in part due to some contracts being executed later in the year than anticipated.
Now what
Despite the disappointing quarterly financial results, management remained confident about Comscore's future.
"This quarter we saw solid performance in many areas of our business, signing many new customers that we expect to increase revenue in the second half of the year," CEO Bill Livek said in the company's second-quarter earnings release. He added, "Some of these new contracts and partnerships didn't have a revenue impact in the second quarter but will start in the second half of the year."
