Gray Television Inc. Profit Climbs In Q2, Beats estimates

(RTTNews) - Gray Television Inc. (GTN-A) announced earnings for its second quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $86 million, or $0.91 per share. This compares with $26 million, or $0.27 per share, in last year's second quarter.

Analysts on average had expected the company to earn $0.86 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 58.7% to $868 million from $547 million last year.

Gray Television Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $86 Mln. vs. $26 Mln. last year. -EPS (Q2): $0.91 vs. $0.27 last year. -Analyst Estimate: $0.86 -Revenue (Q2): $868 Mln vs. $547 Mln last year.

-Guidance: Next quarter revenue guidance: $940 to $959 mln