Nexstar Media Group missed Wall Street’s earnings expectations for its second quarter on Tuesday after reporting net income of $75 million, or diluted earnings of approximately $2.64 per share, on revenue of $1.24 billion. Analysts surveyed by Zacks Investment Research were expecting earnings of $2.88 per share on revenue of $1.25 billion.
Operating income stood at $179 million. The second quarter also brought about a consolidated adjusted EBITDA of $331 million and ended with attributable free cash flow of $100 million. That adjusted EBITDA included losses related to The CW Network as well as the impact of lessened political advertising revenue and increased news expenses related to NewsNation’s programming expansion.