Friday, May 05, 2017

Tronc announced its Q1 earnings

The news passed off as good:
*Total operating expenses dropped by $49 million.
*Tronc still has $161 million of cash on hand.
*Digital audience grew by 5%. (While this sounds good, New York Times reported a 60% increase in digital subscribers.)
*Tribune and LAT saw 1.4% overall growth in circulation, most of it digital only.

The really bad news:
*Total revenue dropped $366 million, which is an 8.1% fall from same quarter in 2016.
*Ad revenue dropped 13.1% over same period.
*TroncM (print) revenues dropped 9.2% while ad revenues fell 15.6%.
*Despite increase in subscribers, TroncX (digital) saw a $55 million drop in total revenues, which is a 3.2% drop.

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