Cumulus Media (CMLS) shares slumped nearly 19% in recent trading Friday after swinging to Q3 loss.
The company reported a Q3 net loss of $0.61 per diluted share, swinging from earnings of $0.16 per diluted share a year earlier.
Two analysts polled by Capital IQ expected a loss of $0.54.
Revenue for the quarter ended Sept. 30 was $203.6 million, down from $207.4 million a year earlier.
Two analysts surveyed by Capital IQ expected $204.1 million.
Price: 0.95, Change: -0.22, Percent Change: -18.80
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