Gannett Co. Reports 18% Drop In Q1 Bottom Line

(RTTNews) - Gannett Co. (GCI) revealed earnings for first quarter that dropped compared to the same period last year.

The company said its profit fell to $34.45 million, or $0.29 per share. This was lower than $42.00 million, or $0.37 per share, in last year's first quarter.

The company said revenue for the quarter fell 8.1% to $659.37 million. This was down from $717.36 million last year.

Gannett Co. earnings at a glance:

-Earnings (Q1): $34.45 Mln. vs. $42.00 Mln. last year. -Earnings Decline (Y-o-Y): -18.0% -EPS (Q1): $0.29 vs. $0.37 last year. -EPS Decline (Y-o-Y): -21.6% -Revenue (Q1): $659.37 Mln vs. $717.36 Mln last year. -Revenue Change (Y-o-Y): -8.1%