Gannett Co. said higher advertising revenue and...
Gannett Co. said higher advertising revenue and lower interest expenses pushed its third-quarter earnings up 33% to $80 million.
The nation’s largest newspaper company announced earnings of $80 million, or 56 cents per share, for the July-September quarter, compared to $59.5 million, or 42 cents per share, for the same period in 1991.
The Arlington, Va.-based company said newspaper and television earnings rose in the third quarter, reflecting improved advertising sales coupled with lower newsprint expenses.
Gannett also noted that its interest expenses dropped nearly 47%, to $11.4 million in this year’s third quarter from $21.4 million a year earlier.
Revenue for the three months rose 3.5% to $848.6 million from $819.7 million for the same period a year earlier.
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