Gannett Co., Inc. (GCI) on Thursday reported third-quarter net income of $23 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the McLean, Virginia-based company said it had profit of 20 cents. Earnings, adjusted for non-recurring gains, were 16 cents per share.
Continue Reading Below
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The newspaper publisher posted revenue of $744.3 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $766.4 million.
Gannett Co., Inc. expects full-year revenue in the range of $3.15 billion to $3.22 billion.
Gannett Co., Inc. shares have declined 11 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 15 percent.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on GCI at https://www.zacks.com/ap/GCI