Reported Earlier, Cumulus Media Announces Selected Preliminary Q1 Results: Expects To Report Net Revenue Of $199M-$201M, And Net Loss Of $(14.9)M-$(13.4)M
Portfolio Pulse from Benzinga Newsdesk
Cumulus Media announced preliminary Q1 results for the period ending March 31, 2024, expecting net revenue of $199M-$201M, a net loss of $(14.9)M-$(13.4)M, and Adjusted EBITDA of $7.65M-$9.15M. The company plans to release detailed Q1 2024 results on May 3rd, followed by a conference call.
April 19, 2024 | 5:32 am
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Cumulus Media expects Q1 2024 revenue of $199M-$201M, net loss of $(14.9)M-$(13.4)M, and Adjusted EBITDA of $7.65M-$9.15M.
The preliminary results indicate a mixed financial performance with a significant net loss but a positive Adjusted EBITDA. This mixed outcome may lead to neutral investor sentiment in the short term as positive EBITDA could offset concerns over the net loss. The full impact will depend on the detailed earnings report and management commentary during the conference call.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100