WIP OWNER ENTERCOM REVENUES TANK: WE WONDER WHY?

By Harry Allison

Entercom Communications. which owns 94WIP in Philly, came out with quarterly earnings of $0.19 per share, which is based on an earnings surprise of -32.14%.

A quarter ago, it was expected that this radio broadcasting company would post earnings of $0.03 per share when it actually produced earnings of $0.03, delivering no surprise.

Over the last four quarters, the company has not been able to surpass consensus EPS estimates.

Entercom Communications, which belongs to the Zacks Broadcast Radio and Television industry, posted revenues of $380.67 million for the quarter ended June 2019, missing the Zacks Consensus Estimate by 1.64%. This compares to year-ago revenues of $372.12 million. The company has not been able to beat consensus revenue estimates over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

Entercom Communications shares have lost about 8.1% since the beginning of the year versus the S&P 500’s gain of 15%.

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