The increase to $250.3 million comes from higher retrans revenue and higher political ad money.
QUARTERLY REPORT
Gray’s Second Quarter Revenue Climbs 10%
Gray Television this morning reported second quarter revenue of $250.3 million, increasing $23.7 million, or 10%, from the second quarter of 2017, primarily as a result of increased retransmission consent revenue and increased political advertising revenue due to 2018 being the “on-year” of the two-year election cycle..
The revenue results include:
- Local revenue (including internet, digital and mobile) of $112.9 million, a decrease of 4% from 2Q 2017.
- National revenue of $29.9 million, down 4%.
- Political revenue of $18 million, up 387%.
- Retransmission consent revenue of $85.3 million, up 23%.
- Other revenue of $4.2 million, down 11%.
Net income totaled $40.7 million and broadcast cash flow was an all-time record of $108.3 million for the second quarter of 2018, increasing $15.2 million, or 16%, from 2Q 2017.
Broadcast operating expenses (before depreciation, amortization and gain or loss on disposal of assets) increased $8.2 million, or 6%, to $141.9 million for the second quarter of 2018.
Read the company’s report here.
Comments (7)
Johnathan Williams says:
August 7, 2018 at 8:02 am
So core revenue Local and National is -8% and Expenses are +6% and this is good ???? Hopefully Raycom ‘s leadership will help these clowns!!!
Math Genius says:
August 7, 2018 at 9:22 am
Ummm. -4% of each bucket is -4% overall. Not -8%. And that $18 million political is contributing to those minuses. Displacement.
Tvspy says:
August 7, 2018 at 11:09 am
Well said.
Agency commission on the 18-mil in political will add roughly 2.7 million in expense.
Seems resiionable
Johnathan Williams says:
August 7, 2018 at 2:42 pm
um -4 % from Local added to the minus 4% from National =-8% overall Einstein, assuming the billing is equal…Stay in the news department..
Math Genius says:
August 7, 2018 at 4:18 pm
Ummm. You can’t add the %’s. The article spells out the Local and National amounts. Even if they were equal you still don’t add them together. Pretend local billed $100. Ntl the same. Both are down 4%. Or $4 each in this case. So minus $8. Against the $200 total billing that’s 4%. Stay in janatorial.
RIDGELINE-TV says:
August 7, 2018 at 5:32 pm
Say, isn’t the FAKE poster “JOHNATHAN WILLIAMS” the one who says all journalists are “C students?” I guess we see who the real “C student” is!!
Johnathan Williams says:
August 8, 2018 at 6:23 am
Hayseed ..Just seeing if you were paying attention..Surprised you can figure it out!!1