Gannett reported gains in its earnings and revenue on Monday, exceeding Wall Street’s expectations, as the media company benefited from strong television advertising during the Olympics and the political campaign season.
The company, which operates the largest American newspaper chain in terms of circulation, said its third-quarter net income rose 33 percent, to $133.1 million, or 56 cents a share, compared with $99.8 million, or 41 cents a shares, in the period a year earlier. Analysts had expected earnings of 53 cents a share in the latest quarter, according to those surveyed by Thomson Reuters.
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