Aug. 8 at 1:15 PM
Noble Capital Markets Research Report: Cumulus Media (
$CMLS) – Can It Pull A Rabbit Out Of The Hat?
Exceeds Q2 expectations. Q2 revenue of
$186.0 million was a tad better than our
$183.9 million estimate, with the largest upside variance being Digital revenue and a little lift from Political advertising. Its Digital Marketing Services business was up an impressive 38% in revenue. Adj. EBITDA exceeded expectations at
$22.4 million versus our
$15.6 million estimate.
Read more: https://www.channelchek.com/news-channel/cumulus-media-cmls-can-it-pull-a-rabbit-out-of-the-hat