Skip to comments.Gannett 2Q net income falls 5 percent; revenue flat
Posted on 07/22/2013 1:18:30 PM PDT by Olog-hai
Gannett Co., the owner of USA Today and other newspapers and television stations, said Monday that net income fell 5 percent in the most recent quarter as newspaper advertising revenue fell and the company took charges for job cuts and other restructuring costs.
Gannett earned $113.6 million, or 48 cents per share, in the second quarter, compared with $119.9 million, or 51 cents per share, a year earlier.
Gannetts stock fell 58 cents, or 2.2 percent, to $25.78 in afternoon trading after the release of results.
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‘Twon’t be a disappointment to watch McPaper pull a Helen Thomas.