TEGNA (TGNA) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates

TEGNA Inc. (TGNA) reported $714.25 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 3.5%. EPS of $0.45 for the same period compares to $0.47 a year ago.

The reported revenue represents a surprise of -0.51% over the Zacks Consensus Estimate of $717.88 million. With the consensus EPS estimate being $0.43, the EPS surprise was +4.65%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how TEGNA performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenue- Political: $27.83 million versus the two-analyst average estimate of $22.30 million.
  • Revenue- Subscription: $375.32 million versus the two-analyst average estimate of $374.85 million.
  • Revenue- Advertising & Marketing Services: $298.69 million versus $308.63 million estimated by two analysts on average.
  • Revenue- Other: $12.41 million compared to the $12.20 million average estimate based on two analysts.
View all Key Company Metrics for TEGNA here>>>

Shares of TEGNA have returned +2.5% over the past month versus the Zacks S&P 500 composite's -0.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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