Gray Reports Record Operating Results
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Gray Television (GTN) Misses Q1 EPS by 6c, Revenues Beat; Offers Q2 Revenue Mid-Point Outlook Below Consensus
May 8, 2019 6:49 AM EDTGray Television (NYSE: GTN) reported Q1 EPS of ($0.31), $0.06 worse than the analyst estimate of ($0.25). Revenue for the quarter came in at $518 million versus the consensus estimate of $498.51 million.
Record First Quarter Revenue - Our revenue for the first quarter of 2019 was $518 million, increasing $292 million, or 129%, from the first quarter of 2018. During the first quarter of 2019, revenue attributable to the Raycom Merger (as defined below) was $280 million. Furthermore, on a Combined Historical Basis (as defined below) excluding the $13 million of advertising revenue attributable to the Winter Olympics in the first quarter of 2018, our first... More