Urban One, Inc., (UONE) a leading media company focused on urban markets, has released its consolidated financial statements for the year ended December 31, 2022. The company reported a net income of $39.9 million for the year, demonstrating solid financial performance. Furthermore, Urban One generated revenue of $484.6 million, reflecting its strong market presence and effective business strategies.
- Net income for the year ended December 31, 2022, amounted to $39.9 million, showcasing Urban One's profitability.
- The company achieved revenue of $484.6 million, a substantial increase compared to the previous year's revenue of $440.3 million.
The consolidated balance sheets of Urban One, Inc. and its subsidiaries as of December 31, 2022, indicate the company's financial position. Key highlights include:
- Total assets amounted to $1.34 billion, slightly higher compared to $1.33 billion in the previous year.
- Current assets, including cash and cash equivalents, trade accounts receivable, and prepaid expenses, totaled $289.7 million.
- Content assets, property and equipment, goodwill, and other intangible assets contributed significantly to the company's total assets.
The consolidated statements of operations reveal Urban One's financial performance for the year. Key points include:
- Operating income amounted to $94.7 million, demonstrating the company's effective cost management and operational efficiency.
- Net income attributable to common stockholders was $37.3 million, representing earnings per share of $0.76 on a basic and $0.72 on a diluted basis.
- Urban One's revenue growth can be attributed to its diverse range of media offerings and strong market presence.
Urban One, Inc. has reported impressive financial results for the year ended December 31, 2022. With a net income of $39.9 million and revenue of $484.6 million, the company has demonstrated its ability to generate profitable growth in the competitive media industry. Urban One's strong financial position and effective business strategies position it for continued success in the urban market.