TEGNA Inc. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - TEGNA Inc. (TGNA) released earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $58.67 million, or $0.36 per share. This compares with $189.56 million, or $1.06 per share, last year.

Excluding items, TEGNA Inc. reported adjusted earnings of $60.91 million or $0.37 per share for the period.

Analysts on average had expected the company to earn $0.33 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 4.8% to $680.049 million from $714.252 million last year.

TEGNA Inc. earnings at a glance (GAAP) :

-Earnings: $58.67 Mln. vs. $189.56 Mln. last year. -EPS: $0.36 vs. $1.06 last year. -Revenue: $680.049 Mln vs. $714.252 Mln last year.