$SALM reports revenue growth in Q4 2022, forecasts decline for Q1 2023
Mar 8th 2023, 9:44 pm
Analyst Summary: Salem Media Group released its financial results for Q4 2022, reporting a total revenue of $68.8 million. The company attributes its revenue growth to its focus on Christian and conservative content across media properties, including radio, digital media, and book and newsletter publishing. Salem also provided its outlook for Q1 2023, projecting total revenue to be between flat and a 2% decline from the previous year with operating expenses estimated to increase between 7% and 10%. Salem Media Group Executive Vice President and Chief Financial Officer, Evan D. Masyr, said, “Salem provides compelling content, fresh commentary, and relevant information,” which has attracted millions of loyal and dedicated audiences nationally. The company is expecting to close and integrate announced transactions to drive more revenue in the future. Investors are cautioned, however, on relying on forward-looking statements that speak only as of the date of the press release, and should consider management's use of non-GAAP financial measures and Regulation G.