Belo 2Q Profit Doubles On Ad Demand, Cost Cuts

By Andrew Gauthier 

The Wall Street Journal

Belo Corp.’s second-quarter profit almost doubled on strength from advertising revenue and cost cuts, while results came in just below analysts’ expectations.

The television broadcaster has seen results turn around on an improving advertising climate. It recorded a double-digit jump in ad revenue in the first quarter after advertising spending slumped in the past year. It rose 15% year-on-year in the second quarter, following a 23% slump a year earlier, on strength driven mainly by the automotive sector. More…