Tribune Media Reports Mixed Q2 Earnings
Tribune Media (NYSE: TRCO) reported second-quarter earnings of 79 cents per share, which beat the analyst consensus estimate of 73 cents by 8.22%. This is a 17.71% decrease over earnings of 96 cents per share from the same period last year.
The company reported quarterly sales of $484.036 million, which missed the analyst consensus estimate of $484.92 million by 0.18%. This is a 1.09% decrease over sales of $489.358 million the same period last year.
"Tribune Media's second-quarter financial results were strong thanks to continued year-over-year growth in core advertising, digital advertising and retransmission revenues; all of which largely offset the anticipated decline in political advertising revenue during the quarter," said Peter Kern, Tribune Media Company's CEO in a statement.
Tribune Media shares were trading at $46.58 in Friday’s pre-market session. The stock has a 52-week high of $46.60 and a 52-week low of $32.71.
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