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Jun 30, 2020
Scripps Q2 2020 Earnings Report
Reported operating results for the second quarter of 2020.
Key Takeaways
Scripps reported Q2 2020 results with total revenue of $359 million, a loss from continuing operations of $17.5 million or 22 cents per share. The company sold Stitcher to SiriusXM for $325 million and raised its 2020 election-year expectations to more than $200 million.
Second-quarter Local Media core advertising revenue came in as expected, improving sequentially over the quarter.
National Media revenue for Q2 exceeded company expectations, down just 1%, excluding Stitcher results for both periods.
Scripps entered into an agreement with SiriusXM to sell its podcast industry-leader, Stitcher, for $325 million including $60 million in earnouts.
Political advertising revenue for the second quarter outpaced company expectations, coming in at $13.4 million, and the company has raised its 2020 election-year expectations to more than $200 million.
Revenue by Segment
Forward Guidance
Scripps has suspended issuing new guidance because of the economic uncertainty caused by the COVID-19 pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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