Urban One Inc (NASDAQ:UONEK), which announced its financial results for the first fiscal quarter on Wednesday, has seen its stock soar by 100% over the course of the past month.
In the first quarter, the company managed to generate a net income of $7000 and that is a considerable boost considering the fact that Urban One had actually made a loss in the prior-year period. The company noted that it made profits of 1 cent a share.
The company, which has made its name in the broadcast media space for catering to urban listeners, generated revenues of $91.4 million in the quarter. The President and Chief Executive Officer of the company Alfred C. Liggins III spoke about the first-quarter performance. He stated that Urban One performed well in challenging circumstances and expects the second-quarter performance to be even better. In such a scenario, it might be worthwhile for investors to add the stock to their watch lists.
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