Townsquare: 3Q Earnings Snapshot
GREENWICH, Conn. (AP) _ Townsquare Media Inc. (TSQ) on Tuesday reported third-quarter net income of $9.3 million.
The Greenwich, Connecticut-based company said it had net income of 34 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 36 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The operator of radio stations in small and mid-sized markets posted revenue of $114.1 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $112.6 million.
Townsquare shares have declined 7 percent since the beginning of the year. The stock has fallen 30 percent in the last 12 months.