Q2 Earnings: Belo Revenue Declines 2.3%

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By Merrill Knox Comments

Belo Corp. reported $174 million in revenue during the second quarter of 2013, a 2.3% decline compared to the year-ago quarter. Excluding political revenue, which was down $8.3 million in the non-election year, Belo reported a 2.5% increase in revenue compared to the second quarter of 2012.

Core spot revenue was up 1.6%, with national spot revenues up 4% and local spot revenues up 1%. Belo attributed the growth to “strength in the telecommunications and automotive categories which were up 68 percent and 9 percent, respectively, partially offset by lower spending in the healthcare, restaurant and retail categories which were down 18 percent, 7 percent and 5 percent, respectively.”

Other revenue, including Internet advertising, retransmission revenue and barter and trade advertising, was up 6% compared to the year-ago quarter. Station salaries, wages and employee benefits were flat compared to the second quarter of 2012.

Belo is in the process of being acquired by Gannett.