E.W. Scripps stock rose 7.6% after a wider loss in third-quarter earnings. Positive trends included a 41% increase in Connected TV revenue, successful broadcast station sales, and sports partnerships boosting ad growth. The company also cut expenses and reduced net leverage. Shares are up 12.1% for the year.

Despite a larger-than-expected loss of $0.55 per share, E.W. Scripps stock surged due to strong operational performance in key areas, beating adjusted EBITDA estimates by 17%. Total revenue fell 18.6%, but the company’s underlying business resilience seemed to outweigh the revenue decline, driving investor optimism.

E.W. Scripps’s shares have been extremely volatile, with 80 moves greater than 5% in the last year. Today’s 7.6% jump is seen as meaningful but not fundamentally changing market perception. The stock remains 31.9% below its 52-week high of $4.15. Five-year investment in E.W. Scripps would now be worth $227.27.

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Read more at Yahoo Finance: Why E.W. Scripps (SSP) Stock Is Trading Up Today