USA Today Reports Declining Revenue and EBITDA Amid Google Antitrust Litigation
USA Today (TDAY) reported third-quarter revenue of $519.2 million, a 7.4% decline year-over-year. Adjusted EBITDA saw a significant drop of 36%, falling to $36.6 million. The company attributed much of this decline to a sharp contraction in indirect advertising revenue caused by changes in Google's search traffic and spam policies. While management highlighted record Average Revenue Per User (ARPU) for digital subscriptions at $10.82, the growth appears driven by price increases rather than volume, as subscriber counts reportedly fell approximately 14%. To offset these headwinds, the company has announced a $100 million annualized cost reduction program and a share buyback plan. The company remains embroiled in legal battles with Google regarding ad market manipulation, with an antitrust trial scheduled for April 5, 2027. Investors are closely monitoring whether the shift toward premium digital subscriptions can compensate for the loss of high-margin automated advertising revenue.
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Topics: antitrust litigation cost reduction program digital subscription revenue revenue decline
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