Entercom Sees Revenue, Income Rise In First Quarter

Q1 Results

ENTERCOM first quarter net revenues rose 3% year-to-year to $309 million, with net income from continuing operations available to common shareholders up from a loss of $13.878 million to a gain of $3.125 million (loss of 10 cents/diluted share to a gain of 2 cents/diluted share).  Adjusted EBITDA jumped 42% to $42.7 million.

President/CEO DAVID J. FIELD said, “I am pleased to report that ENTERCOM delivered another strong quarter of performance as revenues increased 3% and Adjusted EBITDA surged 42%. Our transformational investments in new products and capabilities and the hard work of our team are beginning to pay off as we capitalize on our scale and the abundant growth opportunities in Audio. Second quarter revenues are pacing up by more than 4% and we are excited about our progress across multiple areas of the business and by the dynamic future ahead.”

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