Gannett quarterly profit up, revenue down
NEW YORK, July 18
NEW YORK, July 18 (Reuters) - USA Today publisher Gannett Co. Inc. (GCI.N) said on Wednesday that its revenue fell, but profit rose with the sale of some newspaper assets.
Second-quarter net income for Gannett, the largest U.S. newspaper publisher, rose to $365.7 million, or $1.56 a share, from $310.5 million, or $1.31 a share, in the second quarter a year ago.
Revenue fell to $1.93 billion from $2 billion last year.
Gannett, which publishes 85 daily U.S. papers including USA Today, is dealing with weaker advertising sales as fewer people subscribe to its papers and move to online media and other sources.
- Google bus blocked in San Francisco gentrification protest
- Tearful Thai PM urges protesters to take part in election
- North Korea's 'reign of terror' worries South's leader
- Chinese hackers spied on Europeans before G20 meeting: researcher
- Leaders gather, thousands sing in rain in farewell to Mandela |