E.W. Scripps (SSP) Reports October Revenues
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Price: $2.87 +0.70%
Financial Fact:
Total costs and expenses: 190.8M
Today's EPS Names:
LTBR, ELVN, GLXY, More
Financial Fact:
Total costs and expenses: 190.8M
Today's EPS Names:
LTBR, ELVN, GLXY, More
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The E. W. Scripps Company (NYSE: SSP) reported October revenue and statistics for its Scripps Networks, newspaper and television station group divisions.
At Scripps Networks revenue was up 8.8% to $91.8 million in October compared with the same month a year ago. October advertising revenue at Scripps Networks was up 6.6% and affiliate fee revenue increased 16%. Newspaper advertising revenue decreased 1.5 percent during October, year over year.
The company, which expects advertising revenue growth to strengthen in November and December, reiterated its previously issued guidance of 11 to 13% total revenue growth at Scripps Networks for Q4.
At the company's television station group, October revenue was up 47% to $45.1 million, due to the strength of political advertising. Political advertising was $18.7 million for the month compared with $1.0 million in the year-ago period.
The company now expects total revenue at the television station group to be up about 20 percent in the fourth quarter based on the strength of political advertising. The company had previously forecast an 11 to 13% increase in station group revenue for the period.
At Scripps Networks revenue was up 8.8% to $91.8 million in October compared with the same month a year ago. October advertising revenue at Scripps Networks was up 6.6% and affiliate fee revenue increased 16%. Newspaper advertising revenue decreased 1.5 percent during October, year over year.
The company, which expects advertising revenue growth to strengthen in November and December, reiterated its previously issued guidance of 11 to 13% total revenue growth at Scripps Networks for Q4.
At the company's television station group, October revenue was up 47% to $45.1 million, due to the strength of political advertising. Political advertising was $18.7 million for the month compared with $1.0 million in the year-ago period.
The company now expects total revenue at the television station group to be up about 20 percent in the fourth quarter based on the strength of political advertising. The company had previously forecast an 11 to 13% increase in station group revenue for the period.
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