AP NEWS

Tribune Media: 2Q Earnings Snapshot

August 9, 2018

CHICAGO (AP) _ Tribune Media Co. (TRCO) on Thursday reported second-quarter net income of $84.4 million, after reporting a loss in the same period a year earlier.

The Chicago-based company said it had profit of 96 cents per share. Earnings, adjusted for non-recurring costs and severance costs, came to 99 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.

The operator of the WGN America network and local TV stations posted revenue of $489.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $484.3 million.

Tribune Media shares have fallen 21 percent since the beginning of the year. The stock has decreased 18 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TRCO at https://www.zacks.com/ap/TRCO

AP RADIO
Update hourly