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Gannett reports lower quarterly revenue and profit
July 16, 2012 / 12:47 PM / 5 years ago

Gannett reports lower quarterly revenue and profit

July 16 (Reuters) - Gannett Co reported on Monday a decline in quarterly revenue and profit because of soft advertising revenue at its newspapers.

The largest newspaper chain in the United States said on Monday that total revenue dropped 2.1 percent to $1.31 billion. Analysts on average were expecting revenue of $1.32 billion, according to Thomson Reuters I/B/E/S.

Second-quarter net income was $119.9 million or 51 cents per share, compared with $151.5 million or 62 cents per share in the same quarter last year.

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