UPDATE: Gannett Q2 Profit Drops 5.2%

Gannett Co

reported a 5.2% drop in its second-quarter profit. Gannett's quarterly profit declined to $113.6 million, or $0.48 per share, versus $119.9 million, or $0.51 per share, in the year-ago period. Its adjusted earnings came in at $0.58 per share. Its revenue declined 0.3% to $1.303 billion from $1.307 billion. However, analysts were projecting earnings of $0.58 per share on revenue of $1.328 billion. Gannett shares fell 2.09% to $25.81 in pre-market trading.