Entercom Communications Earnings: Here’s Why Shares are Up Now
Entercom Communications Corp. (NYSE:ETM) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.79%.
Entercom Communications Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4% to $0.26 in the quarter versus EPS of $0.25 in the year-earlier quarter.
Revenue: Decreased 3.22% to $101.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Entercom Communications Corp. reported adjusted EPS income of $0.26 per share. By that measure, the company beat the mean analyst estimate of $0.24. It missed the average revenue estimate of $104.52 million.
Quoting Management: David J. Field, President and Chief Executive Officer stated: “Strong expense management and reduced interest expense enabled Entercom to grow Adjusted Earnings per Share despite a decline in Revenues for the quarter. Notwithstanding our disappointing Revenues, we believe that we are well positioned to accelerate our performance later in the year based on our excellent ratings and our strong competitive position that has been further bolstered by a number of recent operational and strategic enhancements.”
Key Stats (on next page)…