E.W. Scripps Company (SSP) has reported a lower-than-expected loss for the first quarter, outperforming Wall Street estimates.
The media company's net loss was $12.8 million, resulting in a loss of $0.15 per share. This demonstrates a significant improvement from the previous year's first-quarter results when the company reported a net loss of $31.1 million, or $0.37 per share.
Financial experts had predicted an average loss of $0.17 per share for the company, according to data compiled by Thomson Reuters. Note that these predictions often overlook special items.
The company’s quarterly revenue surged 6.4% to $561.5 million from $527.8 million in the prior-year period.
Here's a recap of E.W. Scripps Company’s first-quarter financial results (in accordance with GAAP):
- Net Loss (Q1): $12.8 million compared to a loss of $31.1 million year over year.
- Earnings Per Share (EPS) (Q1): -$0.15 as compared to -$0.37 in the same quarter the previous year.
- Revenue (Q1): $561.5 million, up from $527.8 million last year.
