TEGNA's (TGNA) Q1 Earnings & Revenues Surpass Estimates

TEGNA Inc. TGNAreported first-quarter 2018 non-GAAP earnings of 33 cents per share, which surpassed the Zacks Consensus Estimate by 3 cents. The figure increased 32% on a year-over-year basis and 3.1% sequentially.

On a GAAP basis, revenues increased 9.4% year over year and 2.4% on a sequential basis to $502.

1 million, which came ahead of the Zacks Consensus Estimate of $496.4 million. The top-line growth was driven by continued increase in total paid subscribers, strong performance of TEGNA stations, improved advertising and political revenues.

Additionally, TEGNA reported adjusted revenues of $470.4 million, which excludes the impact of Olympics, Super Bowl and political revenues. The figure also reflects year-over-year growth of 5.5%.