Shares of Entercom Communications Corp. (ETM) rose slightly in early trade Friday after the U.S.-based radio broadcasting company reported better-than-expected Q1 earnings.
For the quarter ended March 31, 2014, ETM reported net income of $1.4 million, or $0.04 per share, compared to a net loss of $0.3 million, or a loss of $0.01 per share.
Adjusted EPS more than doubled to $0.05 per share, beating one analyst’s estimate of $0.02 per share.
Net revenues were flat at $78.2 million, compared to $78.4 million in Q1 2013. One analyst expected ETM to report revenues of $78.4 million.
ETM shares recently rose 0.2% to $10.5 per share. The stock is trading near the top end of the 52-week spread between $7.68 and $11.47.
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