Tribune Publishing Company (NASDAQ: TPCO) today announced financial results for the first quarter ended March 29, 2020.
First Quarter 2020 Highlights:
- Total revenues were $216.5 million, down from $244.5 million in the first quarter of 2019
- Loss from operations was $62.0 million, substantially due to non-cash impairment charges of $51.0 million, compared to a loss of $7.4 million in the first quarter of 2019
- Adjusted EBITDA was $13.3 million, a decrease of $8.0 million compared to the first quarter of 2019
- Digital-only subscribers increased 30.7% to 370,000 at the end of the first quarter 2020, up from 283,000 at the end of the first quarter 2019, and related revenue was up 42.4% compared to the first quarter of 2019