Entercom Communications (ETM) Misses Q4 EPS by 7c, Revenues Beat
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Entercom Communications Fourth Quarter Net Revenues Rise 4% and Pro Forma Adjusted EBITDA Increases 27%
February 22, 2019 8:00 AM ESTPHILADELPHIA--(BUSINESS WIRE)-- Entercom Communications Corp. (NYSE: ETM) today reported financial results for the quarter ended December 31, 2018.
Fourth Quarter Highlights
Net revenues for the quarter were $411.4 million, compared to $246.6 million in the fourth quarter of 2017. On a same-station basis, net revenues for the quarter increased 4% to $411.4 million compared to $395.1 million in the fourth quarter of 2017 Total operating expense for the quarter was $789.0 million, including a non-cash impairment charge of $465 million ($423 million net of taxes), compared to $248.9 million in the fourth quarter of... More