Gannett Co Inc (NYSE:GCI) has released its earnings report for the first quarter of the year.
The following are some highlights from the media company’s most recent earnings report.
Gannett Co Inc reported earnings per share of 13 cents for the first quarter of 2018. This is down from its earnings per share of 14 cents from the same time last year. However, it still came in above Wall Street’s earnings per share estimate of 3 cents for the period. Revenue reported during the first quarter of the year came in at $722.95 million. This is a drop from the newspaper company’s revenue of $773.46 million reported in the first quarter of 2017. It also wasn’t able to reach the $723.93 million in revenue that analysts were expecting from the company. Gannett Co Inc also reported a net loss of $377,000 for the first quarter of the year. This is an improvement over its net loss of $2.08 million reported in the same quarter of the previous year. Operating loss reported by Gannett Co Inc for the first quarter of 2018 was $339,000. This is worse off than its operating income of $1.03 million reported in the first quarter of the prior year.
Gannett Co Inc also provides its outlook for the full year of 2018 in its most recent earnings report. The company says that it is currently expecting revenue for the period to range from $2.93 billion to 3.03 billion. Wall Street is looking for it to report revenue of $2.97 billion for the full year of 2018. GCI didn’t post earnings per share expectations for the year.
GCI stock was up 11% as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.