comScore, Inc. - SCOR STOCK NEWS

Comscore reported Q2 2020 financials with revenue of $88.6 million, down from $96.9 million year-over-year. The net loss was $10.4 million or $(0.15) per share, significantly improved from a loss of $279.5 million in the previous year due to non-cash impairment. Adjusted EBITDA rose to $9.2 million compared to a loss last year. Despite challenges from the pandemic, significant renewals and partnerships were achieved, particularly in TV and Analytics. Comscore's cash reserves stood at $55.5 million as of June 30, 2020.

Comscore (NASDAQ: SCOR) and Consumer Orbit launched Comscore Consumer Intelligence, a platform designed for local market advertising. This resource merges Comscore's extensive media measurement capabilities with Consumer Orbit's real-time consumer behavior data, facilitating more effective ad targeting. This addresses the outdated methods of audience segmentation in local media sales. Advertisers will benefit from real-time insights into shopping behaviors and media consumption. The solution is expected to be available by the end of 2020, enhancing ad decision-making in local markets.

Comscore (NASDAQ: SCOR) has launched new brand safety options to help advertisers combat misinformation during the 2020 U.S. election season. With the Contextual Targeting suite, advertisers can now avoid associating with unreliable news content while placing ads on reputable sites that are seeing increased traffic. This system utilizes a contextual crawler and advanced machine learning for accurate content assessments, ensuring adaptability to evolving misinformation tactics. According to company leaders, these enhancements reinforce Comscore's role in providing robust digital advertising solutions.

Comscore (Nasdaq: SCOR) has launched significant updates to its movies reporting and analytics suite, enhancing user experience and analytics capabilities. Key improvements include a unified global database system and a flexible API for on-demand information retrieval. New data visualizations enable year-over-year film performance comparisons. Additionally, Comscore has upgraded its Cinema Auditorium Control Engine (ACE), streamlining management tasks for exhibitors. The company emphasizes its commitment to supporting the film industry amidst evolving market conditions.

Comscore (NASDAQ: SCOR) reported a significant rise in in-home data usage during the COVID-19 pandemic, with a year-over-year increase of 14% in June 2020 compared to June 2019. Data consumption via Smart TVs surged by 28%, while Streaming Boxes/Sticks maintained a 31% share of total in-home data. However, the growth trend showed signs of slowing, with a notable decline in usage compared to May 2020. The report anticipates that potential renewed stay-at-home orders due to rising COVID-19 cases could affect future data consumption trends.

Comscore (NASDAQ: SCOR) has entered into an agreement with B.A.S.S., LLC to provide advanced digital audience and television measurement services. This partnership will utilize Comscore's Media Metrix® Multi-Platform for detailed insights into audience behavior across devices and platforms, as well as TV Essentials® for comprehensive TV advertising metrics. The collaboration aims to enhance advertising relevance and engagement for B.A.S.S., a leading entity in the bass fishing community.

Comscore, Inc. (Nasdaq: SCOR) plans to hold a conference call on August 10, 2020, at 5:00 p.m. ET, to discuss its financial results for the quarter ended June 30, 2020. Participants can join the call by dialing +1 844-229-7593 (U.S.) or +1 314-888-4258 (international) and are encouraged to log in 15 minutes early. A live webcast will also be available on the Investor Relations section of Comscore's website. A replay will follow the call at specified numbers and through the website.

Comscore (NASDAQ: SCOR) has been granted a new patent by the U.S. Patent and Trademark Office for its innovation in "Protecting User Privacy During Collection of Demographics Census Data." This patent enhances Comscore's capabilities in audience measurement while ensuring consumer privacy. Over the past five years, Comscore has obtained 76 U.S. patents, demonstrating its commitment to privacy-safe measurement and continuous investment in R&D. This innovation is part of Comscore's roadmap for superior measurement in a cookieless digital environment.

Comscore (NASDAQ: SCOR) reports a notable shift in consumer spending due to the COVID-19 pandemic, with retail engagement changing dramatically. The Sports & Outdoor category saw a 71% increase in visits in April 2020 and an 86% rise in May 2020, despite overall spending challenges. Apparel engagement spiked, with visitors spending 38% more time on sites, yet actual spending dropped 14% in May. The Home Furnishing and Consumer Electronics sectors are witnessing declining engagement, while the Tickets & Events category struggles to recover. Comscore will continue tracking these trends.