Cumulus Media Inc. (CMLS) reported a decrease in losses for the first quarter, surpassing the estimates provided by analysts. The company's net loss was $14.2 million, or $0.85 per share, as compared to the net loss of $21.5 million or $1.17 per share in the same period last year.
Analysts had anticipated a loss of $1.32 per share on average, according to data gathered by Thomson Reuters. It is worth noting that these estimates usually don't incorporate exceptional items.
Quarterly revenue for the company declined by 2.7% to $200.1 million from $205.7 million a year ago.
A brief look at Cumulus Media Inc.'s earnings indicated a loss of $14.2 million for Q1 this year, compared to $21.5 million last year. Earnings per share for Q1 came in at $0.85, compared to $1.17 in the same quarter last year. Q1 revenue was $200.1 million this year versus $205.7 million last year.
