Entercom Communications Reports Pandemic Impacted Second Quarter Results
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Entercom Communications (ETM) Misses Q2 EPS by 6c, Revenues Miss
August 7, 2020 8:01 AM EDTEntercom Communications (NYSE: ETM) reported Q2 EPS of ($0.28), $0.06 worse than the analyst estimate of ($0.22). Revenue for the quarter came in at $175.87 million versus the consensus estimate of $204.32 million.
David J. Field, President and Chief Executive Officer, stated: While Entercom generated significant revenue and EBITDA growth prior to the pandemic, second quarter results reflect the impact of the national economic challenges that quickly emerged as many advertisers closed businesses and significantly reduced their ad spend. Given our national leadership position in sports, second quarter top-line results were also... More
