Arbitron Reports Double-Digit Growth While Clients Struggle

By Andrew Gauthier 

Reuters

Arbitron Inc‘s second-quarter profit surged nearly six-fold, but the media and marketing research firm cut its revenue forecast for the year, citing the impact of a “continuing advertising recession.”

Shares of the largest U.S. radio ratings company, which kept its full-year earnings outlook, fell 13 percent to $15.01 in afternoon trade, making them one of the top percentage losers on the New York Stock Exchange.

Arbitron has reported a double-digit growth at a time when most companies are not reporting growth in their revenue, even though its major clients come from an industry that is struggling, Gilford Securities analyst James Boyle said. More…

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