Tegna 3Q Sales Powered Higher by Political Ads

Dow Jones

2024/11/07

By Dean Seal

Tegna recorded higher revenue and earnings in the third quarter as spending on political advertising hit a record high.

The media company posted a profit of $147.4 million, or 89 cents a share, compared with $96.2 million, or 48 cents a share, in the same quarter a year ago.

Stripping out one-time items, adjusted earnings were 94 cents a share. Analysts polled by FactSet had been expecting 87 cents a share.

Revenue rose 13% to $806.8 million, topping analyst projections for $795.7 million, according to FactSet.

The company, which has 64 television stations in the U.S. as well as the multicast networks True Crime Network and Quest, said its top line gain was driven by strength in political advertising, which hit a new third-quarter record.

Overall growth in advertising and marketing services was a boon as well, partially from advertising around the Summer Olympic Games. Subscription revenue, meanwhile, fell 6% from a decline in subscribers, which was partially offset by contractual rate increases.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

November 07, 2024 09:25 ET (14:25 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Subscription revenue, meanwhile, fell 6% from a decline in subscribers, which was partially offset by contractual rate increases. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 07, 2024 09:25 ET (14:25 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tegna 3Q Sales Powered Higher by Political Ads</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTegna 3Q Sales Powered Higher by Political Ads\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-11-07 22:25</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Dean Seal \n</p>\n<pre>\n \n</pre>\n<p>\n  Tegna recorded higher revenue and earnings in the third quarter as spending on political advertising hit a record high. \n</p>\n<p>\n  The media company posted a profit of $147.4 million, or 89 cents a share, compared with $96.2 million, or 48 cents a share, in the same quarter a year ago. \n</p>\n<p>\n  Stripping out one-time items, adjusted earnings were 94 cents a share. Analysts polled by FactSet had been expecting 87 cents a share. \n</p>\n<p>\n  Revenue rose 13% to $806.8 million, topping analyst projections for $795.7 million, according to FactSet. \n</p>\n<p>\n  The company, which has 64 television stations in the U.S. as well as the multicast networks True Crime Network and Quest, said its top line gain was driven by strength in political advertising, which hit a new third-quarter record. \n</p>\n<p>\n  Overall growth in advertising and marketing services was a boon as well, partially from advertising around the Summer Olympic Games. Subscription revenue, meanwhile, fell 6% from a decline in subscribers, which was partially offset by contractual rate increases. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 07, 2024 09:25 ET (14:25 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TGNA","symbol_name":"Tegna Inc","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2481185805","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481185805","pubTimestamp":1730989500,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Tegna recorded higher revenue and earnings in the third quarter as spending on political advertising hit a record high.The media company posted a profit of $147.4 million, or 89 cents a share, compared with $96.2 million, or 48 cents a share, in the same quarter a year ago.Stripping out one-time items, adjusted earnings were 94 cents a share. 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Subscription revenue, meanwhile, fell 6% from a decline in subscribers, which was partially offset by contractual rate incr","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"TGNA":"Tegna Inc"},"translate_title":"政治广告推动Tegna第三季度销售额增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TGNA":1},"content_text":"By Dean Seal \n\n\n \n\n\n  Tegna recorded higher revenue and earnings in the third quarter as spending on political advertising hit a record high. \n\n\n  The media company posted a profit of $147.4 million, or 89 cents a share, compared with $96.2 million, or 48 cents a share, in the same quarter a year ago. \n\n\n  Stripping out one-time items, adjusted earnings were 94 cents a share. Analysts polled by FactSet had been expecting 87 cents a share. \n\n\n  Revenue rose 13% to $806.8 million, topping analyst projections for $795.7 million, according to FactSet. \n\n\n  The company, which has 64 television stations in the U.S. as well as the multicast networks True Crime Network and Quest, said its top line gain was driven by strength in political advertising, which hit a new third-quarter record. \n\n\n  Overall growth in advertising and marketing services was a boon as well, partially from advertising around the Summer Olympic Games. Subscription revenue, meanwhile, fell 6% from a decline in subscribers, which was partially offset by contractual rate increases. \n\n\n \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 07, 2024 09:25 ET (14:25 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}