Chicken Soup for the Soul Entertainment, parent of ad-supported streaming services like Crackle, reported disappointing second-quarter results but showed sharp gains in advertising and licensing revenue.
Total revenue came in at $22.1 million, up 64% from $13.5 million in the year-ago quarter but down from $23.2 million in the prior quarter and short of analysts’ consensus forecast. Analysts had expected revenue of $24.3 million. Losses reached 79 cents a share, not as wide as the 83 cents of a year ago but worse than the Street’s 55-cent outlook.
In a conference call with analysts, CEO Bill Rouhana blamed a delay in deliveries of streaming series Hunters and Slasher, in which the company has an interest. Despite the hit to the top line, the company is “ahead of track” for the full year, he said. “Those two events just moved from one month to the next,” he said. “The production business and the licensing business can be lumpy.
Total revenue came in at $22.1 million, up 64% from $13.5 million in the year-ago quarter but down from $23.2 million in the prior quarter and short of analysts’ consensus forecast. Analysts had expected revenue of $24.3 million. Losses reached 79 cents a share, not as wide as the 83 cents of a year ago but worse than the Street’s 55-cent outlook.
In a conference call with analysts, CEO Bill Rouhana blamed a delay in deliveries of streaming series Hunters and Slasher, in which the company has an interest. Despite the hit to the top line, the company is “ahead of track” for the full year, he said. “Those two events just moved from one month to the next,” he said. “The production business and the licensing business can be lumpy.
- 8/11/2021
- by Dade Hayes
- Deadline Film + TV
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