The Guardian’s U.S. operation took in $15.5 million in revenue but suffered a $15.85 million net loss in the 12 months ending April 2016, POLITICO has learned. It initially believed that it could more than double its revenue this year, to $32.2 million, but has since slashed its revenue forecast by more than $12 million.
Late last year, Guardian U.S. CEO Eamonn Store laid out the company’s revenue projections for the next two years — $32.2 million in fiscal year 2016–17 (i.e. the 12 month period ending April 2017) and $44 million for fiscal year 2017–18. That would allow Guardian U.S. to finally break even by April 2018.