Belo Corp. Q2 beats Street
Earnings exclude newspaper spin-off
TV station operator Belo Corp. posted second-quarter earnings that beat Wall Street expectations when excluding results from the recently spun-off newspaper unit. The Dallas-based company reported a profit of $26.4 million. Revenue of $189 million was down nearly 5% from the year-ago period as spot advertising revenue fell 6.4%. Belo CEO Dunia Shive said the company will continue to focus on cost cutting opportunities in the current sluggish U.S. economy.