Sacramento Bee | McClatchy release
McClatchy says its third quarter earnings fell to $9.4 million, or 11 cents a share, vs. year-ago profits of $11.9 million or 14 cents a share. The results beat Wall Street analysts’ consensus estimates of 7 cents a share. Revenues in the first nine months of 2011 were down 8.7 percent to $918.2 million compared to $1.0 billion in 2010, McClatchy reports in a press release. Ad revenues in the 2011 period were down 10.1 percent, and circulation revenues were down 4.1 percent. CEO Gary Pruitt says: “We saw some improvement in revenue trends late in the quarter: advertising revenue was down 10.4% in July, 10.8% in August and 8.7% in September.” DIGITAL REPORT: “Our digital results include both digital sales bundled with print and digital advertising sold on a stand-alone basis. Our bundled sales have suffered with declines in print advertising causing total digital advertising to decline 0.4%, but we were pleased to see an increase of 9.2% in third quarter digital-only sales compared to the 2010 quarter.
Uncategorized
McClatchy reports profit decline, but beats analysts’ estimates
More News
Topography of a news ecosystem: A first-of-its-kind study diagnoses the local news crisis in a single state
Media scholars at the University of Maryland documented the spread of local news dead spots — and unexpected vibrant areas — in that state.
April 19, 2024
$12 million Global Fact Check Fund opens applications for second year of grants
A partnership between Poynter’s International Fact-Checking Network and Google and YouTube continues to support fact-checking initiatives worldwide
April 19, 2024
Opinion | A columnist made a controversial introduction to Caitlin Clark
IndyStar sports columnist Gregg Doyel has been crushed online and accused of being creepy, sexist and worse. He’s since apologized multiple times
April 19, 2024
‘Satanic rituals’ at Taylor Swift shows? That’s false. And experts say the attack isn’t new.
Experts say musicians have been accused of performing satanic rituals for decades
April 19, 2024
How a longtime film critic’s death represents the great dissolve of local film criticism
Bryan VanCampen of The Ithaca Times was an institution in the central New York college town of 32,000. He might have been the last of his kind.
April 18, 2024