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Q3 Earnings: Nexstar Net Revenue Up 40%

nexstar logoNexstar Broadcasting reported $125.8 million in net revenue for the third quarter of 2013, an increase of +39.8% compared to the year-ago quarter.

Local revenues rose +42% and national revenues were up +48% year-over-year. Political revenues were down -90% in the non-election year, but retransmission revenue, digital media revenue and trade and barter revenue were all up for the quarter.

“Since the Company’s initial public offering ten years ago, through accretive acquisitions Nexstar has grown from 42 stations that it owned, operated, programmed and provided services to, and we have consistently enhanced the operating results of acquired stations as reflected by our long-term record of free cash flow growth on a two year cycle,” Nexstar CEO Perry A. Sook said in a statement.

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