Nexstar Broadcasting Q2 Profit Up, Results Top Estimates - Quick Facts

(RTTNews) - TV broadcaster Nexstar Broadcasting Group, Inc. (NXST) Thursday reported second-quarter earnings which increased, as revenues rose on the back of higher re-transmission fees and growth in digital media and political revenues. In addition, both earnings and revenues beat analysts' estimates.

For the three months to June, net earnings rose to $10.94 million or $0.34 per share, from $6.37 million or $0.20 per share a year earlier.

On average, seven analysts polled by Thomson-Reuters estimated the company's earnings to be $0.32 for the quarter. Analysts' estimates typically exclude one-time items.

Adjusted EBITDA totaled $49.6 million, compared with $42.95 million in the same period last year.

Net revenues rose to $146.93 million, from $126.21 million last year, above the $144.12 million Wall Street expected.