Audacy Inc (AUD) said before open Friday that it lost $0.01 per share in quarter two 2022.
On the revenue line, the company reported $319.4 million, missing estimates by $4.1 million.
In the same quarter a year ago, the company earned $0.01 per share on revenue of $304.5 million.
The stock is down 13.04% to $0.60 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.
Trading in the five days leading up to the report earned Audacy Inc a Bullish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 41. Meanwhile, the average Wall Street analyst rated the stock a Hold.
Audacy Inc is a scaled, multi-platform audio content and entertainment company engaged in the segment of audio. It is a creator of original, premium audio. It brings people together around the news, sports, podcasts, and music that matter to them.