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Gannett Q4 Earnings

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:

Yahoo Finance
Google Finance

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