Nexstar reported second-quarter 2024 results on Thursday, showing that the CW Network cut its losses by $33 million.
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Additionally, the TV channel giant saw its ad sales for the April 1-June 30 quarter increase 2.2% compared to Q2 2023 ($522 million vs. $511 million). According to Nexstar, this includes a $37 million year-over-year increase in political ads to $45 million ahead of the November presidential election between Vice President Kamala Harris and former President Donald Trump. However, there was a $24 million decline in non-political ad sales.
Distribution revenues rose 5.5% in the second quarter to $734 million.
Nexstar's net income rose 41.3% to $106 million. Free cash flow was $78 million.
