TEGNA Q1 2020 Earnings Report
Key Takeaways
TEGNA Inc. reported strong first quarter results with a 32% increase in total company revenue, driven by acquisitions and growth in subscription and political revenues. Net income attributable to TEGNA was $86 million, up 17% year-over-year. The company faces uncertainty due to the COVID-19 pandemic impacting non-political advertising revenue.
Total company revenue was $684 million, up 32 percent year-over-year.
First quarter subscription revenue of $333 million was up 38 percent.
Net income attributable to TEGNA was $86 million, up 17 percent.
Free cash flow for the first quarter was $142 million, up 30 percent year-over-year.
TEGNA
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TEGNA Revenue by Segment
Forward Guidance
TEGNA anticipates that the COVID-19 pandemic will have a material negative impact on its non-political advertising revenue stream, particularly in the second quarter of 2020, with sequential improvement expected throughout the remainder of the fiscal year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income