Cumulus Media stock, which trades on the Nasdaq market, was up by more than 7% in before-the-opening bell activity on Friday — a positive Wall Street reaction to the audio content creation and distribution company’s just-released second quarter results.
While Atlanta-headquartered Cumulus experienced a year-over-year quarterly loss on extremely difficult comps, as 2022 included record political advertising revenue, Q2 2023’s earnings per share beat the consensus estimate offered by 3 analysts polled by Yahoo! Finance, coming in at the high estimate of -$0.03.
