Gannett earnings rise 5 percent in third quarter

McLEAN, Va. (AP) — Gannett, the nation's largest newspaper publisher, reported a 5 percent increase in third-quarter earnings and higher advertising revenues at its flagship newspaper, USA Today. 

Gannett earned $279 million, or $1.03 a share, in the three months ending Sept. 28, meeting the estimates of analysts surveyed by Thomson First Call. In the period a year ago, the company earned $265.6 million, or 99 cents per share. 

Revenues rose 4 percent to $1.63 billion from $1.57 billion. 

Advertising revenues rose 6 percent at Gannett's newspapers, to $1.07 billion from $1.01 billion in the period a year ago. 

At USA Today, advertising revenues rose 5 percent, while paid advertising pages edged higher to 1,023 from 1,017. The company attributed the revenue gain to greater demand for travel, retail, telecommunications and pharmaceutical advertising. 

For the first nine months of the year, Gannett's net earnings rose 5 percent to $853.2 million from $813.1 million in the period a year ago, or $3.15 per share versus $3.02 per share. 

Nine-month revenues were up 4 percent at $4.89 billion from $4.70 billion. 

Gannett publishes 100 daily newspapers in the United States. It also owns 500 non-daily publications in the United States and Newsquest, Britain's second-largest regional newspaper company. Gannett also owns 22 television stations.