Gannett Earnings Climb 30% To $174 Million (GCI)

McLean, Virginia-based Gannett Co., Inc. GCI released financial results on Monday morning. Gannett Co., Inc announced that its 4th quarter net income rose 30.3% to $174.1 million, or 72 cents per share, up from $133.6 million, or 56 cents per share, a year earlier. Excluding special items, the company reported earnings of 83 cents per share. Gannett Co., Inc reported revenue of $1.461 billion, up 0.4% from $1.455 billion a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 80 cents per share, on revenue of $1.47 billion. Chairman and chief executive officer Craig Dubow said, “We are pleased with the positive results we delivered this year. Our performance was driven by the successful execution of strategic initiatives we implemented across the company. Given the rapidly shifting media landscape, we further accelerated our transformation to position Gannett to continue to adapt and operate successfully as our industry evolves." Gannett Co., Inc. (GCI) finished the previous trading day at $15.19 per share. The consensus price target of analysts covering the company's stock is $18.34 per share. Read more from Benzinga's Company news.