Gannett Co. Reports Second Quarter Profit
Gannett Co. (GCI) today reported second-quarter earnings of $151 million, or $.63 per share, on revenues of $1.3 billion, and announced that it would double the dividend it pays to shareholders, to 8 cents per share.
This is a 22 percent decrease in income from the same quarter in 2010; perhaps because advertising revenue was 6.5 percent, or $46 million less than it was a year ago, circulation was down $5 million or 1.7 percent, and digital revenues were up only $19 million.
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