McLEAN, Virginia - Gannett Co. reported Friday a rise in third-quarter earnings, helped by a jump in broadcasting revenue.Advertising at the company's 23 television stations helped the biggest U.S. newspaper publisher halt declining revenue for the first time since 2006.
It offset another decline at Gannett's newspapers, which include USA Today and other dailies. That's not a good sign for other publishers. The New York Times Co. and McClatchy Co. report results next week.
But Gannett's net income climbed to $101.4 million, or 42 cents per share, in the three months ended Sept. 36. That's up from $73.8 million, or 31 cents per share, a year earlier.
Excluding items, its earnings totaled 52 cents per share. Analysts expected 50 cents a share.
Revenue was flat at $1.31 billion. Analysts expected $1.33 billion.
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Source: The Associated Press
