Gannett’s revenue declines, but not as much as anticipated

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McLean, Va.—Gannett Co., publisher of USA Today and owner of Captivate and, Monday posted third-quarter operating revenue of $1.3 billion, down from $1.6 billion in the year-earlier period.

Earnings per diluted share were $0.31, compared with $0.69 for the year-earlier period. Paid advertising pages for Gannett’s flagship newspaper, USA Today, totaled 493 in the third quarter, down from 713 in the same period last year.

“We finished the quarter on a stronger note with better than anticipated results due primarily to better trends in advertising and greater efficiencies across all of our business segments. Our results for the quarter exceeded the high end of previously announced estimate ranges for revenue, operating cash flow and earnings per share,” Craig Dubow, Gannett chairman and president-CEO, said in a statement.

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