USA Today-owner Gannett Co. Reports Q3 Loss, Better-than-expected Revenue

Gannett Co. Inc. on Thursday reported a loss of $24.24 million, or 21 cents per share for the third quarter vs. earnings of $39.17 million, or 33 cents per share during the same period last year. Adjusted earnings for the quarter were 6 cents, well below FactSet's 19 cents per-share consensus. Revenue hit $772.32 million during the quarter, compared with $701.24 million a year ago. Revenue was above FactSet's consensus of $752.00 million. Gannett expects fourth-quarter revenue to see a 14% to 16% increase, while FactSet implies an 8.3% increase. Shares were inactive premarket, but are down more than 39% in the year to date, underperforming the S&P 500 Index , which is up nearly 5%.