Townsquare Media Inc. (TSQ) on Tuesday reported third-quarter profit of $15.8 million.
On a per-share basis, the Greenwich, Connecticut-based company said it had profit of 58 cents. Earnings, adjusted for one-time gains and costs, came to 67 cents per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 67 cents per share.
The operator of radio stations in small and mid-sized markets posted revenue of $165.8 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $172 million.
Townsquare shares have fallen 27 percent since the beginning of the year. The stock has dropped 19 percent in the last 12 months.