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
Special Counsel Robert Mueller has completed his investigation of Russian meddling in the 2016 presidential election and alleged collusion with President Donald Trump's campaign and delivered a confidential report to Attorney General William Barr. a summary of select stories from the cryptocurrency and blockchain world during this week. Stocks moved sharply lower over the course of the trading session on Friday, more than offsetting the rally seen in the previous session. The Nasdaq and the S&P 500 pulled back well off Thursday's five-month closing highs.
Follow RTT