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Friday, November 7, 2014

Field Upbeat About Revenue


What a difference a quarter makes. After reporting revenue down 1 percent in the second quarter of 2014 due to sluggish business conditions, Entercom CEO David Field sounded much more optimistic about revenue Monday morning when he stated Q3 was solid. "We are feeling good about the performance of our business." Excluding political revenue, September was up 5 percent and Field said Q4 is pacing up 2.5 percent. On the topic of political, Entercom is the first company we've heard from where political revenue came in exactly as expected. CFO Steve Fisher said, "We suggested political might be $6 million to $7 million and we'll be in that range. Entercom took in $1.5 million in political revenue in Q3 and has $3.6 million booked in Q4."

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