Revenue Update on Emmis Communications Corporation(NASDAQ:EMMS)

Emmis Communications Corporation(NASDAQ:EMMS) announced the earnings results for Fiscal Year 2017 and Q2. The results came in during Pre-market on Oct 6, 2016. Company reported revenue of $58.77M. Analysts estimated a revenue of $78.63M. Earnings per share were $0.28.

Emmis Communications Corporation (EMMS) shares turned negative on Fridays trading session with the shares closing down -0.01 points or -0.25% at a volume of 14,518. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $3.99. The peak price level was also seen at $3.99 while the days lowest was $3.83. Finally the shares closed at $3.94. The 52-week high of the shares is $4.64 while the 52-week low is $1.7016. According to the latest information available, the market cap of the company is $49 M.

Several Insider Transactions has been reported to the SEC. On Jul 21, 2015, Richard F Cummings (Radio Division President) sold 22,743 shares at $1.20 per share price.

Emmis Communications Corporation is a diversified media company focused on radio broadcasting. The Company owns 18 frequency modulation (FM) and 3 amplitude modulation (AM) radio stations in New York Los Angeles St. Louis Austin Indianapolis and Terre Haute Indiana and operates two additional stations in New York (one FM and one AM) pursuant to a local marketing agreement (LMA) whereby the Company provides the programming for these stations and sells all advertising within that programming. In addition one of the FM radio stations that the Company owns in New York is operated pursuant to an LMA by a third party. The Company also publishes several city and regional magazines. Its publishing operations consist of Texas Monthly Los Angeles Atlanta Indianapolis Monthly Cincinnati and Orange Coast.

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