Reservoir Media Inc reports results for the quarter ended September 30 - Earnings Summary

Reservoir Media Inc reported adjusted earnings of 3 cents per share for the quarter ended September 30, surpassing breakeven earnings from the previous year but missing analyst expectations of 4 cents. Revenue increased by 11.7% to $45.44 million, exceeding the expected $43.14 million. The company’s net income was $2.26 million. Despite a 9% drop in shares this quarter and an 18.1% decline this year, analysts maintain a "buy" rating, with a median 12-month price target of $13.25, 44.1% above the last closing price of $7.41.