Nexstar Rakes in Huge Money

Nexstar released their 1st quarter earnings, and it was so good that Perry Sook Jr. can take another vacation and play a few more rounds of golf.

Here are just a few of the highlights of how much money the company brought in:

Net revenue: $1.396 billion, up 13.1% year over year

Distribution revenue: $837 million, up 9.8%

Advertising revenue: $548 million, up 19.1%

Net income: $160 million, up 64.9%

While Nexstar was cutting jobs and denying raises, the company had a 1st quarter for the record books.

Much of this was due to the DOJ and FCC signing off on the Tegna deal.

But not everything is rosy in the Nexstar Nation. Despite the stock popping up yesterday, after such a glowing 1st quarter, Nexstar’s stock is still taking a hit.

With a judge holding up the deal and a number of states and DirecTV trying to undo the Tegna deal, Nexstar’s stock story over the last 3 months is not so good.

The stock is down nearly 13%.

Junior might want to hold off on buying a new set of golf clubs.

Just saying…