- Gray Television, Inc GTN reported second-quarter FY22 revenue growth of 59% year-on-year to $868 million, beating the consensus of $854.4 million.
- Broadcasting revenue grew 59% Y/Y to $855 million.
- Core advertising revenue increased by 31% Y/Y, and retransmission consent revenue increased by 58% Y/Y.
- Broadcast Cash Flow was $327 million, an increase of 79% Y/Y.
- Adjusted EBITDA was $309 million, an increase of 82% Y/Y.
- EPS of $0.91 beat the consensus of $0.86.
- Outlook: Gray Television sees Q3 revenue of $940 million - $959 million, below the consensus of $961.3 million.
- Price Action: GTN shares closed higher by 0.36% at $19.63 on Thursday.
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