Earnings: Gannett Q2 Income Up 18 Percent Amid Falling Revenue


Gannett (NYSE: GCI) reported that Q2 profits rose to $365.7 million, or $1.56 a share, from $310.5 million, or $1.31 a share, an 18 percent increase from the same period a year ago. Meanwhile, revenue fell to $1.93 billion from $2 billion last year.

— Its Q2 newspaper unit saw declines across the board: overall operating revenues for that segment totaled $1.72 billion, compared to $1.79 billion a year ago. Ad revenues were $1.28 billion for the quarter, a decline of 5.3 percent, while local ad revenues were 4 percent lower. National ad revenues declined 2.8 percent and classified revenues were down 7.5 percent.

— USA Today saw modest declines in ad revenues, which were down just over 1 percent in Q2.

— Gannett was able to point to more favorable numbers for its June revenue report. USAT ad revenues were up 7.4 percent on paid ad pages of 329 versus 305 last year. No word on how online ad revenues fared. In a separate release on its June numbers, Gannett said its U.S. websites had 21.8 million unique visitors reaching approximately 13.6 percent of the internet audience.

— Broadcasting revenues came in at $204.7 million, a 0.4 percent decline from Q206. The slight drop reflects revenue from the acquired television stations. Online related to broadcast grew 33.5 percent. More to come. Earnings release | Webcast (at 10 a.m. EST)

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