Gannett Co. Reports Strong Third Quarter Profit; Flat Revs
Gannett Co. (GCI) also reported its third quarter earnings today: the media company reported earnings of $101 million, up 37 percent from the same quarter last year, on flat revenues of $1.3 billion.
Some highlights:
- Ad revenues at the company’s newspaper division were down 5.1 percent and circulation revenues fell 5.0 percent.
- But digital ad revenue at USA TODAY rose 35 percent, and digital ad revenue at Gannett’s other papers rose 10 percent.
- Broadcast revenue is up 22 percent.
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