Lee Enterprises (NYSE: LEE) reported Q2 EPS of $0.07. Revenue for the quarter came in at $132.62 million versus the consensus estimate of $140.21 million.

"We are pleased that the positive momentum on the revenue side continued into the third quarter" said Kevin Mowbray, President and Chief Executive Officer. "Revenue trends were driven by strong performance from local advertisers — including digital, a 14.4% increase in programmatic advertising, subscription revenue growth and revenue gains from TownNews.com," said Mowbray.

"Digital advertising revenue increased 4.7% and represented 33.7% of total advertising revenue for the quarter," Mowbray added. "Subscription revenue increased 1.6% in the quarter through our premium content offerings and acquisitions in the prior year. Total revenue decreased 4.8% in the third quarter compared to the same quarter in 2017," Mowbray said.

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