Gray Television Q4 EBITDA Tops Estimates, Shares Jump 17.4%
Gray Television reported Q4 revenue of $792 million with a GAAP loss of $0.24 per share, beating the consensus $0.33 loss estimate. Adjusted EBITDA reached $179 million versus expectations of $159.1 million, driving shares up 17.4% in the afternoon session.
1. Q4 Financial Highlights
Gray Television reported fourth-quarter revenue of $792 million, a 24.2% decline year-over-year, and a GAAP loss of $0.24 per share, outperforming the consensus loss estimate of $0.33 per share.
2. Profitability Metrics
Adjusted EBITDA came in at $179 million, surpassing the expected $159.1 million, reflecting stronger operating performance despite the revenue drop and underscoring effective cost management.
3. Market Reaction
Shares of Gray Television surged 17.4% in the afternoon session as investors rewarded the company’s ability to exceed profitability forecasts, marking one of the largest intraday moves for the stock in the past year.