Cumulus Media (CMLS) Tops Q1 EPS by 3c

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Go back to Cumulus Media (CMLS) Tops Q1 EPS by 3c

Cumulus Reports Operating Results for First Quarter 2016

May 5, 2016 4:02 PM EDT

ATLANTA, May 05, 2016 (GLOBE NEWSWIRE) -- Cumulus Media Inc. (NASDAQ: CMLS) (the Company, we, us, or our) today announced operating results for the three months ended March 31, 2016. 

For the quarter ended March 31, 2016, the Company reported net revenue of $268.5 million, down 0.9% vs. the quarter ended March 31, 2015 and Adjusted EBITDA of $41.9 million, down 6.1% from the quarter ended March 31, 2015.

We are in the early stages of a multi-year turnaround, said Mary Berner Chief Executive Officer of Cumulus Media Inc.  Our first quarter results and second quarter pacings are consistent with the considerable challenges we must overcome.  However, we are... More