Q2 25 EPS
$0.22
MISS 12.00%
Est. $0.25
Q2 25 Revenue
$115.4M
BEAT +0.59%
Est. $114.8M
vs S&P Since Q2 25
-14.0%
TRAILING MARKET
TSQ +5.3% vs S&P +19.3%
Market Reaction
Did TSQ Beat Earnings? Q2 2025 Results
Townsquare Media delivered a mixed second quarter, nudging past revenue expectations while falling short on the bottom line as broadcast advertising headwinds weighed on overall results. The company posted Q2 2025 revenue of $115.45 million, edging a… Read more Townsquare Media delivered a mixed second quarter, nudging past revenue expectations while falling short on the bottom line as broadcast advertising headwinds weighed on overall results. The company posted Q2 2025 revenue of $115.45 million, edging above the $114.77 million consensus estimate by 0.59% but still representing a 2.4% decline year-over-year, while adjusted EPS of $0.22 missed the $0.25 analyst estimate by 12.00%. The single most material driver behind the soft profit result was a $3.40 million increase in interest expense following February's refinancing of its 2026 Senior Secured Notes, compounding pressure from a 9.2% drop in broadcast advertising revenue to $48.68 million as local and regional advertisers pulled back. Offsetting those headwinds, digital remained a bright spot, with Digital Advertising revenue growing 2.4% to $42.54 million and subscription digital marketing solutions rising 1.4% to $18.77 million. Management maintained full-year 2025 guidance of $435 million to $440 million in net revenue and $90 million to $94 million in Adjusted EBITDA, signaling steady confidence in the company's digital-led trajectory despite near-term macro uncertainty.
Key Takeaways
- • Digital segment growth with total digital net revenue increasing 2.1% YoY in Q2
- • Subscription Digital Marketing Solutions segment profit surged 15.2% YoY in Q2
- • Digital segments operating at 27% profit margin in 1H 2025
- • Expense management enabling Adjusted EBITDA to exceed guidance despite revenue pressures
- • Non-cash impairment charges decreased $31.1 million YoY, significantly improving net income
- • $5.9 million gain on sale and retirement of assets
TSQ YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
TSQ Revenue by Segment
With YoY comparisons, source: SEC Filings
“I am pleased to share that Townsquare's second quarter results met or exceeded our previously issued guidance. Due to our robust local presence and holistic set of local and digital marketing solutions available to our local clients, we were able to navigate revenue pressures caused by April's Liberation Day and achieve our total net revenue guidance, while continuing to thoughtfully manage our expense base and deliver Adjusted EBITDA above our second quarter guidance. In the second quarter, net revenue decreased -1.6% year-over-year excluding political, and -2.3% in total, meeting our guidance, and Adjusted EBITDA increased +3.8% year-over-year excluding political, and +0.7% in total, exceeding our guidance. In addition, our second quarter net income improved by $50.9 million year-over-year to $2.0 million.”
— Bill Wilson, Q2 2025 Earnings Press Release
TSQ Earnings Trends
TSQ vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TSQ EPS Trend
Earnings per share: estimate vs actual
TSQ Revenue Trend
Quarterly revenue: estimate vs actual
TSQ Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $-0.13 | $-0.16 | -23.08% | $96.8M | -0.42% |
| Q4 25 MISS FY | $0.11 | $-0.32 | -390.91% | $106.5M | +0.09% |
| FY Full Year | $0.34 | $-0.71 | -308.82% | $427.4M | +0.03% |
| Q3 25 BEAT | $0.03 | $0.05 | +66.67% | $106.8M | -1.14% |
| Q2 25 MISS | $0.25 | $0.22 | -12.00% | $115.4M | +0.59% |
| Q1 25 BEAT | $-0.07 | $-0.05 | +28.57% | $98.7M | -0.27% |
| Q4 24 BEAT FY | $0.58 | $0.60 | +3.45% | $117.8M | +1.20% |
| FY Full Year | $1.07 | $1.09 | +1.87% | $451.0M | +0.31% |