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Emmis up 19.8% following Q1 with income growth

Jul. 09, 2015 3:59 PM ETEmmis Corporation (EMMS) StockEMMSBy: Jason Aycock, SA News Editor
  • Emmis Communications (NASDAQ:EMMS) is closing strong, up 19.8% after posting results from a "challenging quarter" where revenue slipped slightly overall, but rose in publishing, while CEO Jeff Smulyan pointed to Q2 radio revenues "pacing up low single digits."
  • Diluted EPS of $0.03 outpaced last year's figure of $0.02 as operating income grew 15% on lower fees. Net income of $1.5M was up from the prior year's $956K.
  • Smulyan also said its NextRadio initiative, to make FM broadcasts available on mobile devices, has "incredible momentum." Last week the app became available for download in the Amazon App Store.
  • FQ1 results

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