The E.W. Scripps Company (NYSE:SSP) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
The E. W. Scripps Company Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.05 in the quarter versus EPS of $0.06 in the year-earlier quarter.
Revenue: Decreased 4.07% to $198.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: The E. W. Scripps Company reported adjusted EPS loss of $0.05 per share. By that measure, the company beat the mean analyst estimate of $-0.07. It missed the average revenue estimate of $203.15 million.
Quoting Management: “Following record-setting profit performance in 2012, we launched into 2013 determined to substantially upgrade our digital revenue platforms, launch a series of new local digital products, and rebuild our newspaper business models around bundled subscriptions for digital and print audiences,” said Rich Boehne, president, chairman and CEO.
Key Stats (on next page)…