TEGNA Q2 2022 Earnings Report
Key Takeaways
TEGNA Inc. reported record second quarter results, with total company revenue up seven percent year-over-year to $785 million. The company achieved record net income of $132 million on a GAAP basis and Adjusted EBITDA of $256 million. The company is on track to be acquired by an affiliate of Standard General in the second half of 2022.
Total company revenue was a second quarter record of $785 million, up seven percent year-over-year.
Subscription revenue was a second quarter record of $389 million, up four percent year-over-year.
Political revenue was a second quarter record of $51 million up 53 percent from 2018.
TEGNA achieved a second quarter record of net income of $132 million on a GAAP basis, or $136 million on a non-GAAP basis.
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TEGNA Revenue by Segment
Forward Guidance
TEGNA expects to continue to pay its regular quarterly dividend through the closing of the transaction and suspended share repurchases under our previously announced share repurchase program. The closing of the transaction, which is still expected to occur in the second half of 2022, is subject to regulatory approvals and other customary closing conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income