"Total Revenue -- $836 million for the quarter, reflecting a decline from $1.0 billion due to a cyclical fall in political revenue. Adjusted EBITDA -- $168 million for the quarter, down from $330 million the prior year but exceeding the high end of internal guidance."
"Core Advertising Revenue -- $354 million for the quarter, representing 14% year-over-year growth on an as-reported basis; pro forma core advertising growth was 5%. Political Advertising Revenue -- $14 million in the quarter, compared to $203 million the prior year, reflecting the non-election quarter dynamic."
"Tennis Segment Revenue -- $62 million for the quarter (up from $57 million), with core advertising revenue up 20% and distribution revenue up 10% (driven by a 25% increase in direct-to-consumer subscribers). Tennis Channel 2 Engagement -- Minutes viewed increased by 12%, with household and total viewer ratings up 8%."
Total revenue reached $836 million, down from $1.0 billion in the prior year, primarily due to the absence of political advertising revenue in this non-election quarter. Adjusted EBITDA was $168 million, exceeding internal guidance despite the year-over-year decline from $330 million. Core advertising revenue grew 14% on an as-reported basis to $354 million, with pro forma growth at 5%. Political advertising revenue dropped significantly to $14 million from $203 million. Distribution revenue declined 1% to $438 million following the sale of markets to RimCom. The Local Media segment generated $734 million in revenue with adjusted EBITDA of $153 million. The Tennis segment demonstrated strength with revenue of $62 million, up from $57 million, featuring 20% core advertising growth and 25% direct-to-consumer subscriber increases.
#quarterly-earnings #political-advertising-cyclicality #core-advertising-growth #tennis-segment-performance #distribution-revenue
Read at The Motley Fool
Unable to calculate read time
Collection
[
|
...
]