Revenue, Income Up For Entercom In Third Quarter 2019

Up Quarter

Revenues and net income rose for ENTERCOM COMMUNICATIONS CORP. in third quarter 2019. Net revenues were up 2% year-to-year to $386.1 million; Adjusted EBITDA for the quarter increased 13% to $98 million; and net income increased from $36.9 million to $38.2 million (26 to 28 cents/diluted share).

Chairman/Pres./CEO DAVID FIELD said, “I am pleased to report that ENTERCOM delivered strong organic growth in the third quarter with Adjusted EBITDA up 13% and Adjusted Net Income Per Share up 23%. Revenues increased 2% (just under 3% ex-political) driven by digital, national and network. In October, we announced the launch of DVR-like functionality for live radio on our RADIO.COM app, becoming the first company to offer that important product feature. This new feature and our recent acquisitions of podcasters CADENCE13 and PINEAPPLE STREET STUDIOS highlight the multiple ways we are working to enhance our product line and grow our relationships with our listeners and customers.”

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