LEE - Lee trades high on strong Q4 operating revenue led by digital revenue growth

After posting a significant 10% gain in after hours trading on posting Q4 results, Lee (LEE +12.3%) is trading high in today's day trade. Quarterly total operating revenue increase to $794.6M from $618M in year ago period was led by 37% digital revenue growth to $253.5M; it accounted for 32% of total operating revenue. Almost 55% of total operating revenue, representing $106M, is subscription-based recurring revenue; Digital-only subscribers grew 65% Y/Y (+19% Q/Q) to 402K. Amplified revenue grew 71% in the quarter to $12M and totaled more than $41M in 2021; video revenue in the quarter grew to $2.1M, a 213% Y/Y increase. "Our strong fourth quarter and full year results clearly demonstrate the significant progress we have made since we launched our Three Pillar Digital Growth Strategy in early 2021, positioning us with strong momentum in our digital transformation as we enter 2022," president & CEO Kevin Mowbray commented. During the quarter,

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Lee trades high on strong Q4 operating revenue led by digital revenue growth