TEGNA Inc. Provides Earnings Guidance for the First Quarter Ended March 31, 2021 and Provides Revenue Guidance for the Second Quarter and Full Year of 2021
April 15, 2021 at 01:45 am IST
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TEGNA Inc. provided earnings guidance for the first quarter ended March 31, 2021 and provided revenue guidance for the second quarter and full year of 2021. For the period, revenue is expected to be $727 million, up 6% year-over-year and at the high end of the range of prior guidance, driven by continued growth in subscription revenue and stronger-than-expected advertising and marketing services revenues, which are expected to finish the quarter up more than 9%. GAAP net income is expected to be $113 million or $0.51 per share.
For the second quarter of 2021, the company expects total GAAP Revenue +Mid-to-High 20%.
For the full year of 2021, the company expects subscription Revenue Growth +Mid-to-High 10% (relative to full year 2020).
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.
TEGNA Inc. Provides Earnings Guidance for the First Quarter Ended March 31, 2021 and Provides Revenue Guidance for the Second Quarter and Full Year of 2021