Reports Q3 revenue $207.419M, consensus $207.47M. Mary Berner, President and Chief Executive Officer of Cumulus Media, said, “Third quarter revenue and Adjusted EBITDA finished in line with expectations with results reflecting the continued dichotomy between local and national business lines. Despite the challenging environment, we maximized performance by continuing to focus on areas we can control, including growing each of our digital businesses, reducing costs, and improving our balance sheet through non-core asset sales and debt reduction. These actions have further improved the Company’s revenue growth profile, operating leverage, financial flexibility, and strategic optionality and, collectively, position us to rebound when the advertising environment improves.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CMLS:
- Cumulus Media Reports Operating Results for the Third Quarter 2023
- Westwood One Host Rich Eisen Wins Prestigious Marconi Award for Network/Syndicated Personality of the Year
- Is CMLS a Buy, Before Earnings?
- Cumulus Media’s Westwood One Launches 37th Consecutive Season As the Exclusive Primetime Network Radio Partner of the NFL
- Cumulus Media Announces Expanded Partnership With Rich Eisen