Earnings: Gannett 4Q Profit Gains Slightly, While Digital Revenues See Double Digit Rise

Citing strong local advertising demand and double digit digital revenue growth, Gannett (NYSE: GCI) reported a rise in 4Q profits. The publisher of USA Today said 4Q profit rose 3 percent to $353.5 million from $343.3 million for the same period a year ago. Revenue for the quarter rose 7.5 percent to $2.2 billion. The increases reflected higher ad sales for its local newspapers and broadcasting properties. In addition, at the end of the quarter, Gannett had more than 100 domestic publishing websites, including USATODAY.com. The company also had websites in all of its 19 television markets. Audience gains helped boost revenues for its websites across the board, the company said, though it did not break out specific financial results in that area. Other highlights include:
— In December, Gannett’s U.S. internet audience share was approximately 22.1 million unique visitors reaching 13.7 percent of the Internet audience, according to Nielsen//NetRatings.
— UK web network Newsquest attracted more than 43 million monthly page impressions from approximately 3.3 million unique users.
— Newspaper group revenue rose 5 percent to $1.94 billion. Ad sales rose 3.7 percent to $1.45 billion in the division, lifted by local and national ad sales.
— Broadcasting division revenue rose 30.3 percent to $270.6 million, thanks in large part to political ad spending. Earnings release | Webcast

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