Home / Business and Economy / Broadcasting Stocks Mixed: E.W. Scripps Misses Q2 Estimates
Broadcasting Stocks Mixed: E.W. Scripps Misses Q2 Estimates
17 Aug
Summary
- Consumer discretionary broadcasting stocks showed mixed Q2 results.
- E.W. Scripps reported a revenue decline and missed earnings estimates.
- Despite misses, E.W. Scripps stock has seen a price increase.
The consumer discretionary broadcasting sector presented a mixed picture in its second-quarter earnings. Overall, companies in this segment exceeded revenue expectations by 3%, with forward guidance also showing a positive trend. However, E.W. Scripps (SSP) emerged as the weakest performer in the group.
E.W. Scripps reported a year-on-year revenue decrease of 9.2%, falling short of analysts' predictions by 3.4%. The company also missed analyst estimates for both earnings per share and EBITDA. Despite these disappointing financial results, E.W. Scripps' stock has climbed 13.7% since the earnings announcement, currently trading at $3.36.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
