Jul 22
MCLEAN, Va. (AP) — 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.
Excluding the restructuring costs, Gannett said it had profit of 58 cents per share in the April-June quarter, which matched the average estimate of analysts surveyed by FactSet. A year ago, adjusted profit was 56 cents per share.
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