Gannett Tops Estimates On Strength In Broadcasting, Digital

Gannett Co. Inc. said Monday it had net income of $118.5 million, or 51 cents a share, in the third quarter, up from $79.7 million, or 34 cents a share, in the same period a year ago. Adjusted per-share earnings came to 59 cents a share, ahead of the FactSet consensus of 55 cents. Revenue climbed to $1.443 billion from $1.252 billion, ahead of the FactSet consensus of $1.436 billion. Revenue growth was driven by the broadcast and digital businesses, with broadcasting revenue climbing 19% on a pro forma basis, the company said in a statement. Shares were not yet active in premarket, but are down 6.4% in the year so far, while the S&P 500 has gained 2.1%.