INNOVATE Corp. Announces Fourth Quarter and Full Year 2023 Results
NEW YORK, March 04, 2024 (GLOBE NEWSWIRE) -- INNOVATE Corp. (“INNOVATE” or the “Company”) (NYSE: VATE) announced today its consolidated results for the fourth quarter and full year. Financial Summary
- “2023 was another successful year for INNOVATE, with a number of exciting developments across the three operating segments,” said Avie Glazer, Chairman of INNOVATE.
- For the fourth quarter of 2023, Broadcasting reported revenue of $5.7 million, compared to $10.7 million in the prior year quarter.
- For the fourth quarter of 2023, Broadcasting reported a Net Loss of $5.4 million compared to $2.8 million in the prior year quarter.
- Revenue: For the fourth quarter of 2023, INNOVATE's consolidated revenue was $361.0 million, a decrease of 11.8%, compared to $409.3 million for the prior year quarter.