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  • Microsoft Corporation (NASDAQ:MSFT): A New Focus On Hardware
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Technology

Spanish Broadcasting System Inc. (NASDAQ:SBSA)’s shares surged by 23.32%

May 17, 2013 by Katty Warnes in Technology with 0 Comments

Northern, WI 05/17/2013 (gdpwatch) – The share prices of Spanish Broadcasting System Inc. (NASDAQ:SBSA) surged by 23.32 percent to close at $4.60 at the end of trading session. The reported first quarter earnings and the positive feedback and reviews received for the air content of the broadcasting firm led to this jump in the share prices.

First Quarter Earnings
The shares of Spanish Broadcasting System Inc. (NASDAQ:SBSA) witnessed heavy trading with around 202,875 shares traded by end of the trading session, compared to the average trading volume of 15,275 shares for the broadcasting firm. The net revenue for the first quarter, 2013 of Spanish Broadcasting System Inc. (NASDAQ:SBSA) was reported at $39,103 which was observed to be 22 percent increase over the same quarter revenues of the previous year.

Positive Reviews
Further, the recently released trend reports of Arbitron showed that the two radio stations of Spanish Broadcasting System Inc. (NASDAQ:SBSA) at New York namely “Mega 97.9 FM” and “93.1 FM Amor” had received significant ratings gains, thus strengthening its market position. The broadcasting firm had proved to be successful in sending quality content to the air which attracted many listeners and viewers to its channels.

Spanish Broadcasting System Inc. (NASDAQ:SBSA) owns and operates 21 radio stations located in the top Hispanic markets of the United States. The broadcasting firm is the largest publicly traded Hispanic controlled media and entertainment company in US. Spanish Broadcasting System Inc. (NASDAQ:SBSA) also owns and operates a television network, Mega TV with over the air, cable and satellite distributions throughout the US and Puerto Rico.

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About Katty Warnes

Katty Warnes Will began her career at the New York Post as a staff photographer. In an environment that created headlines like "Headless Body found in Topless Bar" and "Axis of Weasel", Victoria learned valuable skills that allowed her to eventually go out on her own.  Katty is also a freelance photographer who works appears in newspapers, newswires and magazines world-wide: from the Associated Press to W magazine.  She hails from the Nations capital, but now resides in New York with her two French Bulldogs. She also loves Country Music.

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