Reports Q3 revenue $950M, consensus $967.56M. The company said, “Our results in the Q3 were largely in line with our guidance, with the exception of political advertising revenues, which, while strong, were slightly below our expectations. Our broadcast and corporate operating expenses were much lower than expectations. Our total revenue and our Core advertising revenue were within our guidance range at $950M and $365M, respectively, with Core advertising revenue up 1% compared to the third quarter of 2023. Our local television stations in several Southeastern markets experienced reductions in Core and political advertising revenues during late September, due to their extensive, often round-the-clock and commercial-free coverage of Hurricane Helene to support those affected communities in the Q3.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on GTN:
- GTN Earnings this Week: How Will it Perform?
- Gray Media announces election night coverage plans on Local News Live
- Gray Media to debut new national anthem rendition across all stations
- Gray Media announces Local New Live launches standalone streaming apps
- Gray Media announces broadcast partnership with New Orleans Pelicans
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
