Nexstar Media Shares Slip After Q2 Results Fall Short Of Expectations
Portfolio Pulse from Akanksha Bakshi
Nexstar Media Group's Q2 FY23 results fell short of expectations, with a net revenue of $1.24 billion, a 0.4% decrease YoY, missing the consensus of $1.25 billion. Revenues from Television Advertising fell 17.4% YoY, while Distribution revenue rose 7.7% YoY. The company's EPS was $2.64, missing the consensus of $2.88. Nexstar's shares traded lower by 3.83% following the announcement.
August 08, 2023 | 3:51 pm
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Nexstar Media's Q2 FY23 results missed expectations, leading to a 3.83% drop in share price.
Nexstar Media's Q2 FY23 results fell short of expectations, with both net revenue and EPS missing consensus estimates. This negative news is likely to have a short-term negative impact on the company's stock price, as evidenced by the 3.83% drop following the announcement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100