Nexstar recently released its third-quarter 2025 earnings report, disclosing a 23.5% decrease in ad revenue compared to the same period last year. The CW network, however, managed to reduce its losses by 24% since the previous year.
The third-quarter ad sales for Nexstar totaled $476 million, a significant drop of $146 million from the third quarter of 2024. Political ad revenue also saw a steep decline of $145 million, attributed to the current election cycle.
Despite these challenges, Nexstar managed to exceed Wall Street’s earnings per share (EPS) forecast of $1.83, reporting a diluted EPS of $2.14 on $1.2 billion in revenue. The net revenue saw a 12.3% decrease, primarily due to lower political ad sales.
Nexstar’s founder, chairman, and CEO, Perry Sook, expressed optimism for the company’s future in a letter to shareholders. He highlighted the agreement to acquire TEGNA Inc. for $6.2 billion as a significant step forward. Sook also lauded the company’s strong performance in core business operations, stable distribution and non-political advertising revenue, and effective expense management.
Looking ahead, Nexstar aims to focus on upcoming distribution renewals, closing the acquisition of TEGNA Inc., and capitalizing on the political advertising opportunity during the 2026 mid-term elections. These strategic initiatives are expected to drive shareholder value and further propel Nexstar’s growth trajectory.
In conclusion, Nexstar’s third-quarter earnings reflect both challenges and opportunities for the company. Despite a decline in ad revenue, strategic acquisitions and a focus on operational efficiency position Nexstar for future success in the evolving media landscape.
