A TV station group today reported record revenue for the second quarter. TVNewsCheck reports that the revenue of $196.6 million reported by Gray Television is the highest for any quarter in the company’s history.
Total revenue rose $53.2 million, or 37%, for the second quarter of 2016 over the same period a year ago.
“Net income was $17.7 million for 2Q 2016, which was the highest for any second quarter in its history and a 46% increase from the second quarter of 2015,” the story notes.
“On a pro forma basis (what Gray calls ‘Combined Historical Basis’), total revenue increased 8%, net income increased 6% and broadcast cash flow increased 4% in the second quarter of 2016 compared to the second quarter of 2015,” the report adds.