Gannett Co (NYSE: GCI), the nations largest newspaper company based on circulation volume, reported Q4 earnings.
The company announced net income was up 3% on the quarter. Earnings were up $10.2m to $353.5m ($1.51/share). Revenue was up 7.5% to $2.21b. Both returns beat analyst consensus estimates.
In the rough newpaper ad market, the company had ad revenue up 3.7% but that was partly attributed to an increase in December from an extra week. USA Today was the best performer with 13% ad growth (8% if adjusted to remove the extra week).
The television station holdings had Q4 revenue of $270.6m, up 30.3%.
More detailed press coverage on Gannett’s finances can be found at: