Entercom Revenue Up 4% in ‘Challenging’ Quarter

Third-quarter financial results continue to come in, as Entercom reports net revenues up 4% to $112.5 million. Same-station revenues were up 3%.
It said net revenues and station operating income were company records for a third quarter. Entercom also announced a second stock buyback of up to $100 million.
President/CEO David Field said the same-station growth “significantly outpac(ed) our markets, which were flat for the quarter. Furthermore, we gained revenue share in 13 of our 18 measured markets and achieved strong ratings performance across the substantial majority of our brands.”
Like other radio CEOs in recent weeks, Field paints the current business climate as challenging, one that “adversely affected a broad range of advertising-supported media including television, newspaper and radio.”
In the next three months the company expects net revenue gains in the low single digits.