USA Today publisher Gannett tops revenue estimates

USA Today publisher Gannett Co. Inc. GCI, +1.15%said Monday it had a net loss of $377000, or breakeven on a per-share basis, in the first quarter, narrower than the $2.079 million loss, or 2 cents a share, posted in the year-earlier period. Revenue fell to $723 million from $773 million. The FactSet consensus was for EPS of 3 cents and revenue of $722 million.

Chief Executive Robert Dickey said digital ad revenue accounted for 43.6% of total ad revenue. "Overall, first quarter results were ahead of our expectations driven by solid growth in digital advertising revenues, especially within the digital marketing services category," he said in a statement. The company said it still expects full-year revenue of $2.93 billion to $3.03 billion. Shares were not yet active premarket, but have gained 18% in the last 12 months, while the S&P 500 SPX, +1.28%has gained 11%.