Salem Media Group released its Q3 2018 fiscal results immediately after the Closing Bell on Wall Street. The numbers came after Salem stock inched upward. However, it’s still nearly half of its year-end target price.
With its shares at $3.11, Salem saw statistically flat Q3 revenue of $65.5 million, compared to $65.4 million one year ago.
On a positive note, total operating expenses declined — barely — to $59.3 million from $60.4 million.
But, operating income was up to $6.28 million from $5 million, and that helped Salem achieve net income of $1.2 million (5 cents per share), compared to a net loss of $46,000.
RBR+TVBR will have additional coverage of Salem’s Q3 earnings on Thursday.