Tegna Q1 Adj $0.45 Beats $0.43 Estimate, Sales $714.25M Miss $717.96M Estimate
Portfolio Pulse from Benzinga Newsdesk
Tegna Inc. (TGNA) reported Q1 earnings of $0.45 per share, surpassing the consensus estimate of $0.43, but saw a 4.26% decrease from the previous year's earnings. Sales reached $714.25M, slightly missing the $717.96M estimate and marking a 3.52% decrease from last year.
May 08, 2024 | 12:04 pm
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Tegna Inc. reported Q1 earnings above estimates but with a slight miss in sales and year-over-year declines in both metrics.
While Tegna's earnings beat may provide some positive sentiment, the miss on sales and the year-over-year declines in both earnings and sales could temper investor enthusiasm. The mixed results present a neutral outlook in the short term as the market digests both the positive and negative aspects of the report.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100