- E&P, Tuesday, June 8, 2010 11:36 PM
Giving new earnings guidance at the Noble Equity Conference Monday, Gannett Co. executives said the nation's largest newspaper publisher expects to report second-quarter earnings at the high end of
Wall Street expectations. It is due, however, primarily to increases in broadcast television and digital operations. Newspaper and other publishing revenue is expected to continue to be down
year-over-year -- but also continue the trend towards moderating declines.
CFO Gracia Martore told analysts the percentage increase in television advertising revenue should be in the
low twenties, with digital up in the "mid-single digits." Martore noted that most analysts' earnings per share estimates for Gannett in 2Q are between 47 cents and 58 cents.
advertisement
advertisement
Read the whole story at E&P »
