Gannett earnings for the fourth quarter of 2018 were hitting GCI stock on Wednesday.
Gannett (NYSE:GCI) starts off its earnings report for the fourth quarter of the year with earnings per share of 44 cents. This is a drop from the company’s earnings per share of 55 cents from the same period of the year prior. It was also a blow to GCI stock by coming in below Wall Street’s earnings per share estimate of 46 cents for the quarter.
Net loss in the Gannett earnings report for the fourth quarter of 2018 comes in at $14.24 million. The publishing company’s net loss from the fourth quarter of 2017 was $13.59 million.
The Gannett earnings report for the fourth quarter of the year also includes an operating loss of $2.53 million. This is down from the company’s operating income of $44.26 million reported during the same time last year.
Gannett earnings report for the fourth quarter of 2018 also sees revenue coming in at $751.41 million. This is a decrease from the company’s revenue of $854.24 million reported in the fourth quarter of the previous year. It was also bad news for GCI stock by missing analysts’ revenue estimate of $764.13 million for the period.
The most recent Gannett earnings report also includes its outlook for the full year of 2019. This has revenue for the year ranging from $2.74 billion to $2.81 billion. That’s another strike for GCI stock with Wall Street estimating revenue of $2.86 billion in 2019.
GCI stock was down 3% as of noon Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.