Lee Enterprises ( (LEE) ) has released its Q3 earnings. Here is a breakdown of the information Lee Enterprises presented to its investors.
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Lee Enterprises, Incorporated is a digital-first subscription platform providing local news and advertising services across 72 markets in the United States. The company is known for its focus on digital growth and transformation in the media industry.
In its latest earnings report, Lee Enterprises announced a significant 92% growth in Adjusted EBITDA over the previous quarter, highlighting the company’s successful digital transformation strategy. The report also noted a 16% year-over-year increase in digital-only subscription revenue.
Key financial metrics from the third quarter include a total operating revenue of $141 million, with digital revenue accounting for 55% of this figure. The company reported a net loss of $2 million but achieved a 1% increase in Adjusted EBITDA to $15 million. Digital advertising and marketing services contributed $49 million, representing 74% of total advertising revenue.
Lee Enterprises continues to focus on reducing print-related expenses and corporate overhead while reinvesting in digital growth areas. The company’s digital agency, Amplified Digital, saw a 10% year-over-year revenue increase, further supporting its digital-first strategy.
Looking ahead, Lee Enterprises remains committed to achieving its long-term digital goals, with management expressing confidence in continued growth in digital revenue and profitability. The company aims to maintain its momentum in the digital space while managing its debt obligations effectively.