The Q2 horror show, featuring some of the nation’s biggest publicly traded broadcast media companies, continued on Friday morning.
The E.W. Scripps Co. reported its operating results for the three month period ending June 30. While revenue rose, beating Wall Street estimates, so did costs and expenses.
Oh, and retransmission revenue also grew by a healthy clip.
It wasn’t enough to prevent Scripps from swinging to a net loss.
Investors were hardly pleased, with the company’s shares sliding by more than 11% in mid-afternoon trading on Wall Street.