Newsmax Reports First Profit Since Going Public

Newsmax reported its first profit since going public, posting a net income of $2.9 million for its fiscal second quarter. The conservative news network achieved record quarterly revenue of $54.1 million, representing a 17% increase over the $46.4 million earned during the same period last year.

Broadcasting revenue, the company's primary income source, rose 21% to $45.8 million. The network maintained its full-year revenue forecast between $212 million and $216 million. Management expects future growth to stem from fee increases and distribution deals rather than political advertising.

To expand its digital reach, the company entered an artificial intelligence content partnership with Meta Platforms Incorporated to integrate Newsmax programming into AI queries. Following the release of the earnings report, Newsmax shares rose more than 7% to $9.49.