Gray Television Falls 20%
(RTTNews) - Gray Television, Inc. (GTN) shares are declining more than 20 percent on Thursday morning trade trade after the company slipped to loss for the fourth quarter, compared to the prior year.
The quarterly loss was $22 million or $0.24 per share compared to profit of $173 million or $1.88 per share last year.
Revenue for the quarter declined to $862 million from $1.072 billion a year ago.
Currently, shares are at $6.30, down 20.69 percent from the previous close of $7.95 on a volume of 1,226,907.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.