In fact, our local sales team was able to convert $1.3 million of on-screen ad business to our digital platform in the quarter. The monthly returns are then compounded to arrive at the annual return. It is important to note we had great momentum going early in Q1 as demonstrated by the fact that February year-to-date revenue was up 3% over the same period in 2019 before the theater closures began in late March.For the second quarter, we reported a GAAP diluted loss per share of $0.18 versus an earnings per diluted share of $0.11 in Q2 of 2019. These forward-looking statements involve risks and uncertainties. We will continue to monitor this dividend cushion level as theaters reopen and we get a better read on what the level of the theater attendance and in-theater advertising revenue will be.As mentioned, for the remainder of 2020, our revenue will be primarily dependent on how many theater attendees and related advertising impressions we can deliver. Revenue breakout: National and regional advertising revenue $ 49.8 $ 57.4 Local advertising revenue 9.4 12.8 So, we'll be actively participating in the upfront, which a lot of people place calendar money for January through December of '21. As of today, our three founding members, the largest theater circuits in the US, AMC, Cinemark, and Regal are planning to reopen their doors and welcome audiences back to the movies beginning later this month. Interestingly, throughout the remainder of 2020, we believe our challenge will be whether or not there'll be enough impressions to support our existing ad commitments as the ad market has been very active and there's been a reduction of available high-priced TV sports programming, along with TV production schedules getting delayed.Throughout the pandemic, while theaters remain closed, our various sales teams have continued to engage clients and ad agencies to reschedule the existing commitments and look -- and book new business, so that ads are running on our network when theaters reopen. I guess, one, you talked about continuing to maintain and build up a healthy pipeline of ad commitments, while theaters remain closed along with kind of shifting those commitments from prior periods into kind of the upcoming periods. National CineMedia is trading at a lower price-to-earnings ratio than Travelzoo, indicating that it is currently the more affordable of the two stocks. And ironically, the only form of revenue we created on the digital side or -- our company created was monetizing both our own and owned assets as well as selling [Phonetic] them to third parties.
As we continue to increase and improve both the quality and quantity of our consumer data, it will help us strengthen our Cinema Accelerator product and offer the kind of one-to-one targeting that today's advertisers demand. Due to the absence of any in-theater advertising revenue, total Q2 adjusted OIBDA was negative $12.7 million versus a positive $50.2 million in Q2 of 2019. This will allow us the opportunity to grow our digital revenue year-over-year from 2019 to 2020 despite the pandemic, which is a promising sign. There are many highly anticipated big budget films like Tenet, The King's Man, The New Mutants and Wonder Woman 1984, that are currently set for release very soon after theaters are allowed to reopen.Our digital business has continued to bring in revenue by helping advertisers reach movie audiences at home across our NCM Digital and OTT offerings. We've been very thankful for the support we've received from our clients so far, as many have been very flexible and supported to moving commitments originally planned for Q2 into Q3 and Q4, and into early 2021, especially within our key advertising categories that have not been affected negatively by COVID-19, including streaming companies, e-commerce companies and gaming companies to name a few.Based on hundreds of video and other calls with clients, overall interest in cinema advertising remains strong. National CineMedia, Inc. (NASDAQ:NCMI) owns a 48.0% interest in, and is the managing member of, National CineMedia, LLC. Throughout the remainder of 2020, we will be enhancing our NCM movie trivia platform, including the launch of a new Noovie trivia app later this summer. Unaudited (In millions, except advertising revenue per attendee, margin and per share data) Quarter Ended March 26, 2020 March 28, 2019. Thank you.Stock Advisor launched in February of 2002.
To learn more, You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. The company has topped consensus revenue estimates two times over the last four quarters.The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.National CineMedia shares have lost about 57.8% since the beginning of the year versus the S&P 500's decline of -12%.While National CineMedia has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook.
We use cookies to understand how you use our site and to improve your experience. Movies are one of the ultimate forms of escapes and we all know that, which is one of the reasons that cinema has historically done so well during difficult or recessionary times and we believe that will continue as we emerge from this pandemic. I think if you are going to be flat, you're going to be happy. A quarter ago, it was expected that this theater advertising company would post earnings of $0.20 per share when it actually produced earnings of $0.24, delivering a surprise of 20%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.National CineMedia, which belongs to the Zacks Advertising and Marketing industry, posted revenues of $64.70 million for the quarter ended March 2020, surpassing the Zacks Consensus Estimate by 4.41%. What I will say is that the industry going into Q4, not just the cinema advertising industry, but the media industry overall, is expected to have lower budgets and lower CPMs.
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