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May 7, 2021, 6:56 a.m. EDT

USA Today parent Gannett reports wider loss and lower revenue, while digital-only revenue increases

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By Tomi Kilgore

USA Today parent Gannett Co. Inc. /zigman2/quotes/202050177/composite GCI +2.85% reported Friday a wider net loss on revenue that fell more than some analysts expected, citing negative impacts from the COVID-19 pandemic as well as "general trends" hurting the publishing industry. The Net loss widened to $142.3 million, or $1.06 a share, from $80.2 million, or 61 cents a share, in the year-ago period. Revenue dropped 18.1% to $777.1 million, as advertising and marketing services revenue declined 20.3% and circulation revenue fell 13.2% to $325.4 million. The average estimate of two analysts surveyed by FactSet were for a per-share loss of 13 cents and revenue of $792 million. Digital-only circulation revenue rose 46.7% to $23.2 million, while digital advertising and marketing services revenue reached $195.2 million or 25.2% of total revenue. The stock, which was still inactive in premarket trading, has lost 5.7% over the past three months while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.54% has gained 8.1%.

/zigman2/quotes/202050177/composite
US : U.S.: NYSE
$ 5.77
+0.16 +2.85%
Volume: 1.51M
June 16, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$799.46 million
Rev. per Employee
$188,159
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/zigman2/quotes/210599714/realtime
US : S&P US
4,223.70
-22.89 -0.54%
Volume: 2.22B
June 16, 2021 5:12p
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