- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
