Belo Corporation Beats Estimates With 38 Cent EPS (BLC)

Dallas, Texas-based Belo Corporation BLC on Tuesday morning released financial results that exceeded Wall Street earnings expectations. Belo Corporation reported that its 4th quarter net earnings rose to $39.9 million, or 38 cents per share, up from $22.3 million, or 21 cents per share, a year earlier. Belo Corporation reported revenue of $206.2 million, up from $171.3 million a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 34 cents per share, on revenue of $206.1 million. Belo Corporation (BLC) ended the previous trading session at $7.44 per share. Analysts covering the company's stock have a consensus price target of $7.83 per share. Belo Corporation is one of the nation's largest pure-play, publicly-traded television companies, owns and operates 20 television stations (nine in the top 25 markets) and their associated Web sites. Read more from Benzinga's Company news.