Entercom Communications has announced its fiscal results for the first quarter of 2019. Net revenues for the quarter were $309 million, up three percent compared to $300.6 million in the first quarter of 2018. Total operating expense for the quarter was $278.6 million, compared to $294.9 million in Q1 2018. Net income per diluted share for the quarter was $0.02, compared to a net loss per diluted share of ($0.10) in the first quarter of 2018. Adjusted EBITDA for the quarter was $42.7 million, up 42 percent compared to $30.1 million in the first quarter of last year.
David J. Field, President/CEO, stated, “I am pleased to report that Entercom delivered another strong quarter of performance as revenues increased 3% and Adjusted EBITDA surged 42 percent. Our transformational investments in new products and capabilities and the hard work of our team are beginning to pay off as we capitalize on our scale and the abundant growth opportunities in Audio. Second quarter revenues are pacing up by more than four percent and we are excited about our progress across multiple areas of the business and by the dynamic future ahead.”