Gannett Co. Announces 33% Fall In Q2 Earnings

(RTTNews) - Gannett Co. (GCI) revealed a profit for second quarter that lost ground from last year.

The company said its bottom line fell to $36.14 million, or $0.30 per share. This was down from $53.95 million, or $0.47 per share, in last year's second quarter.

Analysts had expected the company to earn $0.31 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 3.0% to $748.79 million. This was up from $727.07 million last year.

Gannett Co. earnings at a glance:

-Earnings (Q2): $36.14 Mln. vs. $53.95 Mln. last year. -Earnings Decline (Y-o-Y): -33.0% -EPS (Q2): $0.30 vs. $0.47 last year. -EPS Decline (Y-o-Y): -36.2% -Analysts Estimate: $0.31 -Revenue (Q2): $748.79 Mln vs. $727.07 Mln last year. -Revenue Change (Y-o-Y): 3.0%