TEGNA Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 29, 2024 at 08:27 am EST
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TEGNA Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 725.85 million compared to USD 917.13 million a year ago. Net income was USD 76.13 million compared to USD 218.6 million a year ago. Basic earnings per share from continuing operations was USD 0.4 compared to USD 0.97 a year ago. Diluted earnings per share from continuing operations was USD 0.4 compared to USD 0.97 a year ago.
For the full year, the company reported sales was USD 2,910.93 million compared to USD 3,279.25 million a year ago. Net income was USD 476.72 million compared to USD 630.47 million a year ago. Basic earnings per share from continuing operations was USD 2.29 compared to USD 2.82 a year ago. Diluted earnings per share from continuing operations was USD 2.28 compared to USD 2.81 a year ago.
Tegna Inc. is a media company, which is engaged in providing stories, investigations and marketing services. The Company owns and operates approximately 64 television stations and two radio stations in 51 United States markets and owns four network affiliates in approximately 25 markets among independent station groups, reaching approximately 39% of United States television households. The Company also owns multicast networks, which include True Crime Network, Twist and Quest. Through TEGNA Marketing Solutions (TMS), its integrated sales and back-end fulfillment operations, it delivers results for advertisers across television, digital and over-the-top (OTT) platforms, including Premion, its OTT advertising network. Its Premion business operates an advertising network for OTT streaming and connected television platforms. The Company also operates VAULT Studios, which develops original television programs developed from its stationsâ library of true crime and investigative content.