Gray Television Expects Q1 Revenue of $810M-$830M Vs $874.98M Est
Portfolio Pulse from Benzinga Newsdesk
Gray Television anticipates Q1 revenue for the period ending March 31, 2024, to be between $810M-$830M, which is below the estimated $874.98M. The forecast includes total core revenue of $365M-$375M, retransmission revenue of $375M-$380M, political revenue of $30M-$33M, and production company revenue of $23M-$24M. Notably, revenue from the Super Bowl broadcast on CBS channels is expected to be $18M, up from $6M from FOX channels in the previous year.
February 23, 2024 | 11:52 am
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Gray Television projects its Q1 2024 revenue to be between $810M-$830M, missing the $874.98M estimate. This includes a significant increase in Super Bowl broadcast revenue on CBS channels.
The projected revenue falling short of estimates is likely to negatively impact investor sentiment in the short term, as it indicates potential challenges in meeting market expectations. The significant increase in Super Bowl broadcast revenue highlights a positive aspect, but the overall miss on estimates could overshadow this in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100