Gray Television Expects Q3 Revenue $780M-$801M Vs $811.53M Est
Portfolio Pulse from Benzinga Newsdesk
Gray Television has provided its Q3 2023 revenue guidance, expecting to generate between $780 million and $801 million, which is lower than the estimated $811.53 million. The forecast includes core advertising revenue of $360 million to $368 million, retransmission revenue of $370 million to $380 million, political advertising revenue of $15 million to $16 million, and production company revenue of $18 million to $19 million.
August 04, 2023 | 2:59 pm
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Gray Television's lower than expected Q3 2023 revenue guidance may negatively impact its stock price in the short term.
Investors often react to a company's earnings guidance. In this case, Gray Television's revenue guidance for Q3 2023 is lower than the estimated $811.53 million, which could lead to a negative sentiment among investors and potentially a decrease in the stock price.
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