It’s no secret that there has been a lot of nail biting in anticipation of what will likely be a less-than-stellar round of quarterly earnings releases to start the 2018 calendar year.
If Beasley Broadcast Group‘s Q1 results portend much of the industry’s revenue tales, buckle up: We’ll be experiencing some turbulence for the next several days.
Lower operating income in the quarter resulted in a net loss in Q1 2018, despite growth in net revenue. Investors immediately reacted, sending BBGI shares down by nearly 11% as the company’s 10am Eastern quarterly earnings call with Wall Street analysts began.
By 11am, a slow recovery was underway, with shares down 8.2% to $10.78.
At the Closing Bell, BBGI shares were off by 4.7%, to $11.20.