Entercom Communications (ETM) Misses Q1 EPS by 2c

Entercom Communications (NYSE: ETM) reported Q1 EPS of $0.03, $0.02 worse than the analyst estimate of $0.05. Revenue for the quarter came in at $309 million versus the consensus estimate of $309.73 million.

• Net revenues for the quarter were $309.0 million, up 3% compared to $300.6 million in the first quarter of 2018
• Total operating expense for the quarter was $278.6 million compared to $294.9 million in the first quarter of 2018
• Net income per diluted share for the quarter was $0.02, compared to a net loss per diluted share of ($0.10) in the first quarter of 2018
• Adjusted EBITDA for the quarter was $42.7 million, up 42% compared to $30.1 million in the first quarter of 2018

David J. Field, President and Chief Executive Officer, stated: “I am pleased to report that Entercom delivered another strong quarter of performance as revenues increased 3% and Adjusted EBITDA surged 42%. Our transformational investments in new products and capabilities and the hard work of our team are beginning to pay off as we capitalize on our scale and the abundant growth opportunities in Audio. Second quarter revenues are pacing up by more than 4% and we are excited about our progress across multiple areas of the business and by the dynamic future ahead.”

For earnings history and earnings-related data on Entercom Communications (ETM) click here.

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