TEGNA Sees Q2 Total Company GAAP Revenue Of Down Low-To-Mid Single Digit Percent, With Total Non-GAAP Operating Expenses Flat Year Over year
Portfolio Pulse from Benzinga Newsdesk
TEGNA anticipates a decrease in Q2 total company GAAP revenue by a low-to-mid single digit percentage, while expecting total non-GAAP operating expenses to remain flat compared to the previous year.
May 08, 2024 | 12:11 pm
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TEGNA expects a decrease in Q2 GAAP revenue by a low-to-mid single digit percentage, with non-GAAP operating expenses unchanged from last year.
The anticipated decrease in GAAP revenue for TEGNA suggests potential short-term negative pressure on the stock price, as revenue declines can often be interpreted negatively by the market. However, the stability in non-GAAP operating expenses may mitigate some concerns by indicating effective cost management. The overall impact is considered negative due to the revenue forecast.
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