Emmis Reports Second Quarter

Emmis Communications reported net revenue for its second quarter up 1.3 percent and broadcast cash flow up 2.6 percent, after giving effect to the sale of its Denver radio properties.
The company said it exceeded its financial guidance and Wall Street estimates with the net revenue of $143.2 million for the quarter. It also said its “free cash flow” more than doubled.
“We had a tremendous quarter and our next quarter looks much stronger,” Jeff Smulyan said.