E.W. Scripps beats second quarter profit forecasts

Posted at 10:42 AM, Aug 03, 2017
and last updated 2017-08-03 10:42:35-04

E.W. Scripps Co. on Thursday reported second-quarter net income of $8.4 million.

On a per-share basis, the Cincinnati-based company said it had net income of 10 cents. Earnings, adjusted for non-recurring gains, came to 8 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.

The television and radio company posted revenue of $231.8 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $233.3 million.

E.W. Scripps shares have risen roughly 1 percent since the beginning of the year.