USA Today parent Gannett tops profit and revenue estimates

USA Today parent Gannett Co. Inc. said Tuesday it had a net loss of $13.6 million, or 12 cents a share, in the fourth quarter, after earnings of $24.6 million, or 21 cents a share, in the year-earlier period. Adjusted per-share earnings came to 55 cents, ahead of the FactSet consensus of 46 cents. Revenue fell to $854.2 million from $866.9 million, but was also ahead of the FactSet consensus of $853 million. Digital revenue rose to $1.0 billion and accounted for 31.6% of total revenue, Chief Executive Robert Dickey said in a statement. The company is now expecting 2018 revenue of $2.93 billion to $3.03 billion, compared with a FactSet consensus of $3.02 billion. Shares were not yet active premarket, but have gained 28% in the last 12 months, while the S&P 500 has gained 16%.

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