News Column

Gannett Co. 2Q profit rises 83 percent

July 22, 2014



MCLEAN, Va. (AP) Gannett Co. (GCI) on Tuesday reported earnings that nearly doubled in its second quarter, and topped analysts' expectations.

The Mclean, Virginia-based company said net income increased to $208.5 million, or 90 cents per share, from $113.6 million, or 48 cents per share, in the same quarter a year ago.

Earnings, adjusted for one-time gains and costs, were 67 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.

The owner of USA Today and other newspapers and TV stations said revenue climbed 12 percent to $1.46 billion from $1.3 billion in the same quarter a year ago, and missed Wall Street forecasts. Analysts expected $1.48 billion, according to Zacks.

Gannett Co. shares have climbed $2.14, or 7.2 percent, to $31.72 since the beginning of the year, while the Standard & Poor's 500 index has risen 6.8 percent. The stock has increased $5.85, or 23 percent, in the last 12 months.

This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full GCI report: http://www.zacks.com/ap/GCI

Keywords:Gannett Co.,Earnings Report


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Source: Associated Press


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