McClatchy Reports Q2 Earnings Increase
Like Gannett Co. last week, The McClatchy Co. beat the expectations of a skeptical Wall Street by reporting second-quarter earnings that more than doubled earnings from the first quarter of this year.
Net income from continuing operations in the second quarter totaled $42.0 million, or 50 cents per share. Excluding unusual items in the quarter, earnings from continuing operation were $25.2 million, or 30 cents a share, up 42.9 percent from the year-ago period.
Analysts surveyed by Thomson Reuters had expected McClatchy to report a loss of $6.45
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