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Monday, November 10, 2014

Can Townsquare Deliver Another Big Quarter?


This will be our second chance to hear from radio's newest public company. Townsquare reports earnings before the opening bell Thursday and will host a conference call at 8 a.m. Three months ago, Townsquare executives reported a 7.8 percent revenue increase while most other radio companies were flat. Townsquare focuses on being diversified (see WE Fest purchase) and experienced an increase of nearly 40 percent in its digital and events business in May, June, and July. The company also reported flat advertising revenue, blaming it on four markets, so we'll see if CEO Steven Price and his team addresses those markets on the earnings call. Since early August the Townsquare stock price has risen from about $10.75 to nearly $12.80.

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