May. 12 at 6:02 PM
Noble Capital Markets Research Report: E.W. Scripps (
$SSP) – Sports Gives It A Leg Up
Q1 better than expected. The first quarter results were solid, beating expectations. Total revenues were
$524.4 million, better than our
$519.5 million estimate. Importantly, the largest revenue variance was due to better than expected core advertising, which carries incrementally higher margins. Combined with earlier cost reductions, particularly in its Network segment, the company roundly beat adj. EBITDA expectations,
$75.6 million versus our
$56.5 million estimate.
Read more : https://www.channelchek.com/news-channel/e-w-scripps-ssp-sports-gives-it-a-leg-up