For some investors, a year-over-year look at a company’s quarterly earnings report is suffice. But, for those holding shares in broadcast TV companies, that may not be the savviest assessment of how the media entity performed.
Thank political ad dollars for the impossible comps. Throw in station acquisitions and divestments, and any apples-to-apples comparison could be thrown out the window.
Thus, Gray Television‘s Q4 2020 earnings results, which came out Thursday, deserve a closer look — one that involves an examination on a two-year cycle of the growing company’s results. It’s something key Wall Street analysts did, and explains why they’re upbeat — as Gray C-Suiters are — about Gray’s performance in the last three months of 2019.