01:09 PM EDT, 11/01/2024 (MT Newswires) -- Cumulus Media ( CMLS ) shares slumped nearly 19% in recent trading Friday after swinging to Q3 loss.

The company reported a Q3 net loss of $0.61 per diluted share, swinging from earnings of $0.16 per diluted share a year earlier.

Two analysts polled by Capital IQ expected a loss of $0.54.

Revenue for the quarter ended Sept. 30 was $203.6 million, down from $207.4 million a year earlier.

Two analysts surveyed by Capital IQ expected $204.1 million.

Price: 0.95, Change: -0.22, Percent Change: -18.80