UPDATE: Gannett Q4 Profit Drops 12%
Gannett Co (NYSE: GCI) reported a 12% drop in its fourth-quarter earnings.
Gannett's quarterly profit declined to $103.1 million, or $0.44 per share, from $116.9 million, or $0.49 per share, in the year-ago period. Excluding other items, its adjusted earnings rose to $0.89 from $0.72 per share.
Its revenue climbed 9.4% to $1.52 billion. Gannett in December expected earnings of $0.87 to $0.88 per share on revenue growth of more than 5%.
Gannett shares closed at $19.84 on Friday.
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