Gray Television: 3Q Earnings Snapshot
ATLANTA (AP) _ Gray Television Inc. (GTN) on Tuesday reported third-quarter net income of $61.9 million.
On a per-share basis, the Atlanta-based company said it had net income of 70 cents.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The broadcast television company posted revenue of $279.3 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $275.1 million.
For the current quarter ending in December, Gray Television said it expects revenue in the range of $319 million to $325 million.
Gray Television shares have climbed 4.5 percent since the beginning of the year. The stock has climbed 14 percent in the last 12 months.