Gannett Co. beats 1Q profit expectations, misses revenue forecasts

MarketsAssociated Press

Gannett Co. (GCI) on Tuesday reported first-quarter earnings of $112.9 million.

The McLean, Virginia-based company said it had net income of 49 cents per share.

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The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.

The owner of USA Today and other newspapers and TV stations posted revenue of $1.47 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $1.53 billion.

Gannett Co. shares have risen 10 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 2 percent. The stock has increased 30 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GCI at http://www.zacks.com/ap/GCI

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Keywords: Gannett Co., Earnings Report