Nexstar Broadcasting shares plummeted 5.24% during Thursday's trading session, following the company's release of its second-quarter financial results.

Nexstar Media reported earnings per share of $3.61 and net income of $113 million. While adjusted EBITDA reached $633 million, surpassing the IBES estimate of $619.8 million, the earnings per share figure appeared to disappoint investors, triggering the sharp decline.

The stock's drop highlights market sensitivity to bottom-line profitability, even as the company demonstrated strength in operational earnings.