NEW YORK (Reuters) - Gannett Co Inc. hopes that the newspaper industry might catch the wave of publicity including jouite resumed the other media.
The largest newspaper chain in reported United States Monday a drop in quarterly profits and revenue, which suggests that advertisers are devaluing newspapers.
"The numbers of the journal were quite bad," said Doug Arthur, an analyst with Evercore Partners. "You could have said at the end of Q2 2010 it seemed in decline of newspaper ad was hollow." They just cannot seem to traction. ?
Gannett reported that income fell to 3.7% to 1.25 billion in the first quarter. Analysts on average income of $ 1.26 billion plan.
At the publishing company division, home to 82 of newspapers, decreases in real estate advertising and the weakness of its improvements of eclipsed U.K. division in the industry of the automobile and the job ad categories.
Publication of revenue fell 6.2% in 929.8 million, a decline of 7.3% of advertising revenues.
Evercore analyst Arthur suggested that, although Gannett progresses some revenue from ads, problems persist in its chain of newspapers U.K. Newsquest and the newspaper USA Today.
"They are so enamored of digital growth in USA Today, they are not aggressively address printing side", he said.
Revenue digital ad in the national newspaper known for its hotel distribution increased by 19.2%.
National income print ad, which includes a USA Today declined to 10.5% because of the weakness in the categories of travel, entertainment and technology.
Recipes dragged broadcasting 2.2 per cent to 163.9 million, mainly due to the increase in favour of the Super Bowl and recipes Olympic ad in the same period last year. Other than these events in the prior quarter, the company said revenue rose.
Digital advertising increased by 12.1% to $ 157.6 million.
Gannett posted a net profit of $ 90.5 million, or 37 cents per share, compared to $ 117.2 million, or 49 cents per share, a year earlier.
Excluding costs for closures and job cuts, Gannett has recorded a profit of 41 cents per share, according to the average estimate of Wall Street, as compiled by Thomson Reuters I/B/E/s
Shares of Gannett fell 25 cents, or 1.7%, to $14,55 early trade on the New York Stock Exchange. The broad Dow Jones Industrial Average declined by 1.9%.
(Reported by Jennifer Saba.) (Editing by Gerald e. McCormick and Derek Caney)
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