The CW Narrows Losses by $33 Million in Q2 as Nexstar Ad Sales Tick Up 2%
variety.comJennifer Maas TV Business Writer Nexstar reported its second-quarter 2024 earnings Thursday, revealing that the CW Network has narrowed its losses by $33 million year over year.
Additionally, the TV station group giant saw its ad sales for the April 1-June 30 quarter inch up 2.2% from Q2 of 2023 ($522 million vs. $511 million).
Wall Street forecast earnings per share (EPS) of $4.17 on $1.3 billion in revenue, according to analyst consensus data provided by LSEG, formerly Refinitiv.
Nexstar reported diluted EPS of $3.54 on $1.27 billion in revenue. “Nexstar delivered another period of solid financial results, building on our strong start to the year,” Nexstar CEO Perry Sook said in a letter to shareholders. “Following a first quarter in which Nexstar generated record first-quarter distribution and total net revenue, we did it again, generating our highest-ever second-quarter distribution and total net revenue.
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