Gannett 3Q profit down 1.6%, meeting analysts’ expectations
Gannett's net income fell to $99.8 million, from $101.4 million a year earlier. Publishing revenue, including advertising and circulation, declined 5.3%, while digital revenue rose 10%. Total revenue fell 3.5 percent to $1.27 billion, meeting the average analyst estimate. Gannett shares rose more than 7% on the news in premarket trade. CEO Gracia Martore says in a press release that "these results, amid continued market volatility, reflect the strength of Gannett’s iconic local and national brands and our relentless commitment to continuously enhancing the news, information and services we offer every day to the communities we serve." || October 6: Martore succeeds Craig Dubow as Gannett chief executive.
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