Gannett Reports Fourth Quarter and Full-Year 2018 Results
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Gannett (GCI) Misses Q4 EPS by 2c, Revenues Miss; Offers FY19 Revenue Guidance Below Consensus
February 20, 2019 6:59 AM ESTGannett (NYSE: GCI) reported Q4 EPS of $0.44, $0.02 worse than the analyst estimate of $0.46. Revenue for the quarter came in at $751.4 million versus the consensus estimate of $764.13 million.
Operating revenues were $751.4 million, compared to $854.2 million in the fourth quarter of 2017.Unfavorable changes in foreign currency exchange rates negatively impacted revenues by $4.3 million.Same store, day adjusted operating revenues declined 8.6% year-over-year. Further adjusting for day trades as compared to the year-ago fourth quarter (one less Sunday, one more Monday), which impacts our print advertising and circulation revenues, the decline was 7.4%, an... More