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Audacy Inc Down 13.04% To $0.60 After Earnings Miss

Friday, August 05, 2022 11:49 AM | InvestorsObserver Analysts

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Audacy Inc Down 13.04% To $0.60 After Earnings Miss

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.

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