Gannett Co., Inc. reports 4Q loss

EarningsAssociated Press

MCLEAN, Va. (AP) _ Gannett Co., Inc. (GCI) on Tuesday reported a fourth-quarter loss of $13.6 million, after reporting a profit in the same period a year earlier.

The McLean, Virginia-based company said it had a loss of 12 cents per share. Earnings, adjusted for one-time gains and costs, came to 55 cents per share.

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The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.

The newspaper publisher posted revenue of $854.2 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $848.5 million.

For the year, the company reported profit of $6.9 million, or 6 cents per share. Revenue was reported as $3.15 billion.

Gannett Co., Inc. expects full-year revenue in the range of $2.93 billion to $3.03 billion.

Gannett Co., Inc. shares have decreased roughly 3 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 2 percent.

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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