Emmis Communications Earnings: Deeper Loss, Stock Falls Hard
Emmis Communications Corporation (NASDAQ:EMMS) reported its results for the fourth quarter. Emmis Communications is a media company with radio broadcasting and magazine publishing operations.
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Emmis Communications Earnings Cheat Sheet for the Fourth Quarter
Results: Loss widened to $23.4 million (47 cents per diluted share) from $14.9 million (loss of 46 cents per share) in the same quarter a year earlier.
Revenue: Fell 11.7% to $50.9 million from the year-earlier quarter.
Revenue has dropped for three consecutive quarters. In the third quarter, revenue declined 10.8% to $59.3 million while the figure fell 3.3% in the second quarter from the year earlier.
Last quarter, the company reported a net loss that marked a turn from the previous quarter’s profit. In the second quarter, the company booked a profit of $6 million, or 22 cents per share.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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