Gannett Sees 2Q Earnings At High End Of Analysts' Views

Gannett Co. (GCI) anticipates second-quarter earnings at the high end of analysts' expectations as print-ad revenue is seen falling by the low- to mid-single digits on a percentage basis.

Shares of the parent of USA Today climbed on the news and were up 2.4% to $14.06 in recent trading. The stock more than tripled the past year.

Ad declines moderated through 2009 and into this year for most newspaper publishers following the recession-induced slump seen starting in 2008. The first quarter's decline was 8.5% at Gannett.

Meanwhile, the company said ahead of an analyst conference that television-ad revenue would be up slightly more than 20% in the second quarter.

Read Full Article from Wall Street Journal

- Posted: 2010-06-07 10:12:28

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