Beasley Broadcast Group Reports Second Quarter Financial Results
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August 4, 2020 1:02 PM EDT
Guggenheim analyst Curry Baker lowered the price target on Beasley Broadcast Group (NASDAQ: BBGI) to $3.00 (from $5.00) while maintaining a Buy rating.
The analyst commented, "Beasley reported 2Q revenue of $30.4mm (vs. our $42.7mm) and station operating income (SOI) of -$11.0mm (vs.... More
August 4, 2020 7:07 AM EDT
Beasley Broadcasting Group (NASDAQ: BBGI) reported Q2 EPS of ($0.63), $0.43 worse than the analyst estimate of ($0.20). Revenue for the quarter came in at $30.4 million versus the consensus estimate of $43 million.
Commenting on the financial results, Caroline Beasley, Chief Executive Officer, said, While Beasley had a strong start to the year, a sharp decline in commercial advertising occurred in the second quarter with the onset of the COVID-19 pandemic. Beasleys financial results for the three-month period ended June 30, 2020 reflect the economic pressures we experienced across our business as local and national advertisers adapted their... More
