Cumulus First Quarter 2017 Results

Cumulus has reported Q1 2017 net revenues of $264 million, down 1.7% from the same period last year. Net loss was $7.4 million, but narrowed 48%. Adjusted EBITA was 38.7 million, down 7.6% from Q1 2016. The company's earning presentation notes that "normalizing for certain items," revenue would have been flat, expenses down and earnings up year over year. "Our first quarter represents a clear inflection point in our turnaround, as the downward trajectory of recent years has been reversed," says CEO Mary Berner. "With clear evidence that our strategy is working, we remain committed to the rigorous execution of the initiatives that are critical to keeping the company on a sustained growth path." More here.