NCMI - Why National CineMedia Shares Are Surging Today | Benzinga
National CineMedia, Inc. (NASDAQ:NCMI) shares are trading higher after the company reported better-than-expected fourth-quarter financial results and announced a $100 million share repurchase program.
Operating revenue stood at $90.9 million, beating the consensus of $81.1 million.
National advertising revenue increased 2% Y/Y to $71.9 million, driven by a 14.1% increase in utilization. However, local and regional advertising revenue fell 5% Y/Y to $16.2 million, owing to lower contract size and activity in the government, electronics, and travel categories.
Operating income declined to $21.3 ...