logo
Plus   Neg
Share
Email

Entercom Communications Q3 Profit Surges - Quick Facts

Entercom Communications Corp. (ETM) on Tuesday reported a surge in profit for the third quarter from last year on strong revenue growth and lower expenses.

Third-quarter net income available to common shareholders for the quarter were $36.95 million or $0.26 per share from $3.44 million or $0.09 per share in the year-ago period.

The latest quarter's results include merger and acquisition costs of $697 thousand, compared to $8.83 million last year.

Excluding items, adjusted earnings for the quarter were $0.26, compared to $0.24 per share in the prior-year period. On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.27 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues for the quarter grew to $378.5 million from $122.3 million in the prior-year quarter. On a same-station basis, net revenues were $378.5 million, compared to $395.2 million last year.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
erman software giant SAP SE announced the launch of its blockchain-based supply chain tracking system that helps eliminate counterfeit drugs along the pharmaceutical supply chain. In a statement, the company noted that its blockchain-based solution helps customers comply with the U.S. Drug Supply Chain Security Act or DSCSA. A measure reflecting UK households' perceptions regarding their finances in the coming 12 months remained subdued and they continue expect further deterioration in finances this year, survey data from IHS Markit showed on Monday. The IHS Markit UK household finance index rose to a three-month high... Saudi Arabia and the United Arab Emirates have joined together to launch a new cryptocurrency, according to UAE's national press agency WAM. The Saudi-Emirati Coordination council, during its first meeting in Abu Dhabi, launched its Strategy of Resolve with seven initiatives in vital sectors for collaboration between both countries, including the Saudi-Emirati Pilot cryptocurrency.
Follow RTT