That’s the word that the broadcast television station owner used to describe its fiscal health during the third quarter of 2022.
Indeed, the word “strong” may be appropriate — a 417% increase in net income attributable to common stockholders was achieved, compared to the same period of 2021.
Yet, Gray Television missed Wall Street earnings per share estimates in a big way, and investors weren’t pleased. Gray shares were off sharply in Friday trading on Wall Street, diving 22.5% within the first 45 minutes on high volume.
Gray stock finished Friday’s trading with one-third less value than it had on Thursday.
