Tags: Gannett | Lower | Quarterly | Profit | Revenue

Gannett Posts Lower Quarterly Profit, Revenue

Monday, 18 Apr 2011 08:38 AM

Gannett Co. Inc. reported a decline in quarterly profit and revenue, suggesting that advertisers are shunning newspapers in favor of other media, especially digital.

First-quarter net income fell to $90.5 million, or 37 cents per share, compared with $117.2 million, or 49 cents per share, a year earlier, the company said Monday.

Gannett, which owns the largest newspaper chain in the U.S., reported that revenue fell 3.7 percent to $1.25 billion in the first quarter. Analysts on average had expected revenue of $1.26 billion for the period, according to Thomson Reuters I/B/E/S.

Revenue at both its publishing division, home to 82 newspapers including USA Today, and its broadcasting division declined in the quarter, due largely to drops in advertising. Only its digital business saw an improvement from a year before.

© 2017 Thomson/Reuters. All rights reserved.

   
1Like our page
2Share
Companies
Gannett Co. Inc.reported a decline in quarterly profit and revenue, suggesting that advertisers are shunning newspapers in favor of other media, especially digital.First-quarter net income fell to $90.5 million, or 37 cents per share, compared with $117.2 million, or 49...
Gannett,Lower,Quarterly,Profit,Revenue
130
2011-38-18
Monday, 18 Apr 2011 08:38 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved