Reuters reported that Hispanic Broadcasting Corp. said Tuesday that its first-quarter profit nearly doubled, buoyed by higher revenue, but it forecast that second-quarter
and full-year earnings would fall short of Wall Street estimates.
At the same time, the Dallas-based company raised its guidance for full-year
broadcast cash flow, revenue and earnings before interest, taxes, depreciation
The company, which owns 55 radio stations in 14 of the top 20 Hispanic
markets in the United States, said first-quarter net income rose to $6.9
million, or 6 cents per share, from $3.6 million (3 cents) a year
Revenues for the first quarter rose nearly 9 percent to $52 million.