Playboy Reports Q1 Nosedive
Playboy Enterprises reported a wider first-quarter loss Monday due to impairment and restructuring charges and sluggish momentum across its divisions.
The adult entertainment company lost $13.7 million, compared to a year-ago loss of $4.2 million despite recent cost cutting. Revenue fell 21.5 percent to $61.6 million.
The company cited asset sales and “the effects of the global economic slowdown on advertising and consumer spending” as key drivers of the revenue decline. U.S. TV revenue fell to $13.3
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