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Jan. 19, 2021, 6:39 a.m. EST

Gannett provides upbeat revenue outlook on advertising rebound

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By Tomi Kilgore

USA Today parent Gannett Co. Inc. /zigman2/quotes/202050177/composite GCI +5.85% provided a fourth-quarter revenue outlook that was above expectations, amid strength in advertising. The media company expects revenue of $865 million to $875 million, up from $699.3 million a year ago. The one analyst that provided an estimate with FactSet was expecting $857 million. Gannett also expects a net loss of $135 million to $130 million. "Revenue improvement was primarily driven by a continued rebound in our advertising trends, both print and digital," said Chief Executive Michael Reed. "We also continued to see strong digital-only circulation pro forma revenue performance with an increase of approximately 46% year-over-year." The stock, which is still inactive in premarket trading, has soared 171.9% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.91% has gained 10.0%.

/zigman2/quotes/202050177/composite
US : U.S.: NYSE
$ 6.88
+0.38 +5.85%
Volume: 5.17M
Sept. 17, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$926.29 million
Rev. per Employee
$188,159
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/zigman2/quotes/210599714/realtime
US : S&P US
4,432.99
-40.76 -0.91%
Volume: 3.79B
Sept. 17, 2021 5:25p
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