Entercom Communications Slips To Loss In Q3

(RTTNews) - Entercom Communications Corp. (ETM) reported that its third-quarter net loss was $16.88 million or $0.13 per share, compared to net income of $38.21 million or $0.28 per share in the prior year.

Net revenues for the quarter were $268.5 million, down 30% from last year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.06 per share and revenues of $266.95 million for the quarter. Analysts' estimates typically exclude special items.

Digital revenues were $47.3 million, up 41% compared to the third quarter of 2019 and were propelled by continued strong audience and revenue growth in podcasting and digital audio advertising.