“Despite considerable economic turbulence, we delivered fourth quarter financial performance in the upper half of our guidance range provided during our last earnings call, continuing a multi-year period of significant accomplishments,” Mary Berner, the President/CEO of Cumulus Media, said as the company released its fiscal health report for the final three months of 2022.
While the company’s revenue surpassed the consensus estimate of the three Wall Street analysts that cover Cumulus, the earnings per share came in at zero, as increased expenses led to a year-over-year decline in adjusted EBITDA.
