Gannett Reports Third Quarter 2019 Results
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Gannett (GCI) Tops Q3 EPS by 9c, Revenues Miss; Lowers FY19 Revenue Guidance Below Consensus
November 4, 2019 6:57 AM ESTGannett (NYSE: GCI) reported Q3 EPS of $0.12, $0.09 better than the analyst estimate of $0.03. Revenue for the quarter came in at $635.6 million versus the consensus estimate of $654.61 million.
Third Quarter 2019 Consolidated Results
Operating revenues were $635.6 million, compared to $711.7 million in the third quarter of 2018.Unfavorable changes in foreign currency exchange rates negatively impacted revenues by $3.9 million.Same store operating revenues declined 7.8% year-over-year, an improvement from the second quarter decline of 9.8%.Total digital revenues reached $244.3 million, or approximately 38% of total revenue.Total digital advertising and marketing services... More