Entercom Communications Corp. (NYSE:ETM) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Entercom Communications Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.02 in the quarter versus EPS of $-0.03 in the year-earlier quarter.
Revenue: Decreased 1.96% to $78.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Entercom Communications Corp. reported adjusted EPS income of $0.02 per share. By that measure, the company beat the mean analyst estimate of $0. It beat the average revenue estimate of $78.29 million.
Quoting Management: David J. Field, President and Chief Executive Officer stated: “Entercom’s first quarter Adjusted EBITDA grew 1% and Free Cash Flow more than doubled as effective cost management offset a 2% decline in revenues. We continue to focus on investing in our brands, our talent and our digital platforms to strengthen our value proposition to our listeners and customers and bolster our future growth. Industry fundamentals are improving as the pace of industry innovation accelerates and broadcast radio listenership continues to grow within the thriving audio landscape.”
Key Stats (on next page)…