Earnings: Gannett 3Q06: Online Revenues Up 25 Percent


Gannett Co. (GCI) still isn’t breaking out financial details for online in its earnings report but execs did provide some color during the analysts’ call. Company-wide, online revenues grew 25 percent in the third quarter. Online revenue was up about 21 percent at domestic community newspapers; Newsquest was up about 38 percent; USAToday.com was up 24 percent.
— September traffic numbers show uniques of about 24 million; Newsquest traffic in the UK totaled 3.6 million uniques.
CareerBuilder revenue was up 29 percent over the same period last year while traffic rose 22 percent to an average 22 million for the quarter.
— Chairman and CEO Craig Dubrow talked up Planet Discover, Gannett’s local search technology being rolled out across the U.S. community papers; the increased investments in CareerBuilder (42.5 percent), ShopLocal.com 42.5 percent) and Topix.net (now 31.9 percent; the affiliation with Revenue Science on behavioral ad targeting,
UK: Gannett continues to have a rugged time in the UK. Newsquest revenues were down 5 percent and profit was off 13 percent.CFO Gracia Martore: “The U.K. ad market remains challenging, however we are seeing indication that the worst of the declines are ending and some of the tougher comparisons have been cycled.” UK online revenue growth outstripped decline on print side.
Overall, earnings per sahre were down 12 percent to $1.11 per share compared with $1.22 in 3Q05. Total operating revenues of $1.91 billion were up 2.7 percent over the same quarter last year but slightly below analysts’ expectations.
Release | Webcast | Transcript (Seeking Alpha)

Comments are closed.