Entercom points to sequential improvement in Q3 earnings

|About: Entercom Communications Co... (ETM)|By:, SA News Editor

Entercom Communications (NYSE:ETM) turned up in-line revenues in its Q3 earnings, though EBITDA dropped when adjusting for the company's transformational merger with CBS Radio.

Revenues juiced by the merger rose to $378.5M from $122.3M. But same-station revenues fell to $378.5M from $395.2M a year ago.

Pro forma adjusted EBITDA dropped to $86.5M from $89.7M.

The company pointed to sequential revenue gains: "Revenues have improved significantly since the first half of the year and the fourth quarter is on track for significant growth, currently pacing up 4%," says CEO David Field.

Operating income was $78.7M vs. a year-ago $13.5M.

A small block trade has crossed the wires up 8.4%.

Press release

Subscribe for full text news in your inbox