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VOL. 42 | NO. 18 | Friday, May 4, 2018
Gannett reports $377K loss in first quarter
MCLEAN, Va. (AP) — Gannett Co. on Monday reported a loss of $377,000 in its first quarter.
On a per-share basis, the McLean, Virginia-based company said it had a loss of less than 1 cent. Earnings, adjusted for one-time gains and costs, were 13 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The newspaper publisher posted revenue of $723 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $723.9 million.
Gannett Co. expects full-year revenue in the range of $2.93 billion to $3.03 billion.
Gannett Co. shares have decreased 16 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GCI at https://www.zacks.com/ap/GCI