Gannett says second-quarter profit more than doubled
Gannett reports it earned $195.5 million, or 81 cents per share, for the three months ended June 27 -- up from $70.5 million, or 30 cents per share, a year earlier. Excluding one-time items, it says it earned 61 cents per share, beating analysts' forecast of 53 cents per share. || Other second-quarter highlights from Gannett's release:
* Operating income for Broadcasting was $78.4 million, an increase of 56.0 percent compared to the second quarter last year.
* Publishing division advertising revenues were $692.2 million, a decline of 5.7 percent compared to the second quarter last year.
* Classified revenues declined 5.0 percent in the quarter; national advertising declined 2.9 percent.
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