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Gannett tops 3Q net income expectations

Gannett-USA Today headquarters building in McLean, Virginia.
Paul J. Richards | AFP | Getty Images
Gannett-USA Today headquarters building in McLean, Virginia.

Gannett on Monday reported third-quarter earnings of $118.5 million.

On a per-share basis, the McLean, Virginia-based company said it had net income of 51 cents. Earnings, adjusted for one-time gains and costs, came to 59 cents per share.

The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.

The owner of USA Today and other newspapers and TV stations posted revenue of $1.44 billion in the period, matching Street forecasts.

Gannett shares have fallen slightly more than 6 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 2 percent. The stock has increased roughly 1 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. GCI stock research report from Zacks: http://www.zacks.com/ap/GCI