COLUMBIA, Md. (AP) -- Radio audience ratings company Arbitron Inc. said Thursday that its second-quarter profit jumped 31 percent, boosted by higher revenue.
The Columbia, Md.-based company earned $10 million, or 37 cents per share, up from $7.6 million, or 27 cents per share, in the same quarter last year. Revenue rose 9.1 percent to $104.4 million from $95.7 million.
The results beat Wall Street predictions. Analysts, on average, expected a profit of 28 cents per share on $100.6 million in revenue, according to FactSet.
Arbitron's revenue got a boost from annual increases in its multi-year radio ratings contracts, along with higher revenue from its cross-platform and mobile services. The recent quarter's results also benefited from the timing of items related to survey data from previous periods.
The company backed its full-year guidance, saying that it still expects to post an adjusted profit of $2.15 to $2.30 per share on revenue growth of 5 to 7 percent. Based on Arbitron's 2011 revenue, the guidance implies 2012 revenue of $443.4 million to $451.9 million.
Analysts polled by FactSet expect a profit of $2.23 per share on $446.6 million in revenue.
Arbitron shares rose $1.14, or 3.3 percent, to $35.98 in afternoon trading.
