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Mar 31, 2023
TEGNA Q1 2023 Earnings Report
TEGNA reported first quarter results, achieving a record in subscription revenue and demonstrating the resilience of its business model.
Key Takeaways
TEGNA Inc. reported a total company revenue of $740 million, a net income of $104 million, and a first quarter record of $414 million in subscription revenue. The company's results reflect the absence of cyclical even-year events, offset by growth in subscription revenue.
Total company revenue was $740 million, down 4% year-over-year.
Subscription revenue reached a first quarter record of $414 million, up 6% year-over-year.
AMS revenue was $308 million, down 13% year-over-year.
Net income was $104 million on a GAAP basis, or $107 million on a non-GAAP basis.
Revenue by Segment
Forward Guidance
This communication includes forward-looking statements within the meaning of the “safe harbor” provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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