MCLEAN, Va. — Gannett on Tuesday reported a fourth-quarter loss of $13.6 million, after reporting a profit in the same period a year earlier.
The McLean, Virginia-based company said it had a loss of 12 cents per share. Earnings, adjusted for one-time gains and costs, came to 55 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The newspaper publisher posted revenue of $854.2 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $848.5 million.
Gannett expects full-year revenue in the range of $2.93 billion to $3.03 billion.
Gannett Co. shares have dropped almost 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 2 percent.