Shares in Entravision Communications Corp. dropped more than 10 percent early Friday after the media company more than doubled its quarterly loss due to slower-than-expected ad sales.

Entravision reported a first quarter loss of $7.7 million (-8 cents per share), down from a loss of $3.3 million (-3 cents) in the same period a year earlier.

Revenues for the Santa Monica-based Spanish-language media company were $55.7 million, down from $56.9 million on slow radio and TV advertising sales, the company said.

The company also said that it expects revenues to decrease by low- to mid-single digit percentages while it expects operating expenses to increase by low-single digit percentages.

Shares in Entravision were down 10 percent to $6.24 in early trading Friday.

For reprint and licensing requests for this article, CLICK HERE.