TEGNA Inc. Reports 34% Decrease in Net Income for the Third Quarter of 2023

TEGNA Inc.(TGNA), a leading media company, has released its financial results for the third quarter of 2023, revealing a significant decrease in both net income and revenues. The company reported total revenues of $713.2 million for the quarter, representing an 11.2% decrease compared to the same period in 2022. Additionally, TEGNA's net income for the quarter saw a substantial decline of 34.1%, reaching $96.2 million. The following sections will provide a detailed analysis of TEGNA Inc.'s consolidated statements of income for the third quarter and the nine months ending September 30, 2023.

Third Quarter Performance

In the third quarter of 2023, TEGNA Inc. experienced a decline in its financial performance compared to the same quarter in the previous year. The key financial highlights are as follows:

Decrease in Revenues