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E.W. Scripps beats second quarter profit forecasts

Posted: 10:42 AM, Aug 03, 2017
Updated: 2017-08-03 14:42:35Z
E.W. Scripps beats second quarter profit forecasts

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.