Nexstar Broadcasting is celebrating record financial results for the second quarter. The company, which owns, operates, and/or services 55 stations in 32 markets, today announced net revenue of $88.9 million for the period, a 17.7% increase over last year’s second quarter.
“Nexstar achieved record second quarter net revenue based on the strength of our core television operations and rising contributions from our retransmission and e-Media revenue streams,” Perry Sook, the company’s president and CEO, said in a statement.
“The record second quarter net revenue marks the Company’s eleventh consecutive quarter of core television advertising revenue growth while highlighting our strategies for garnering leading shares of political billings in our markets,” Sook added.
Nexstar’s core local and national revenue increased 6.7% during the second quarter, with a 16% jump in automotive advertising and a 194% increase in political revenue.