Nexstar Broadcasting Group misses 3Q net income expectations, tops revenue forecasts

MarketsAssociated Press

IRVING, Texas (AP) — Nexstar Broadcasting Group Inc. (NXST) on Friday reported third-quarter profit of $15.4 million.

The Irving, Texas-based company said it had profit of 48 cents per share.

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Profit did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share. The company also missed the FactSet earnings estimate of 49 cents per share.

The television broadcaster posted revenue of $157.7 million in the period, surpassing Street forecasts. Analysts expected $155.6 million, according to Zacks. Analysts surveyed by FactSet expected revenue of $155.9 million.

Nexstar shares have fallen 24 percent since the beginning of the year. The stock has decreased nearly 4 percent in the last 12 months.

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Elements of this story were generated by Automated Insights using data from Zacks Investment Research. NXST stock research report from Zacks.

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Keywords:Nexstar Broadcasting Group,Earnings Report