Gannett, the proprietor of USA TODAY, posted a second straight quarterly revenue as the corporate’s digital subscription technique gained momentum.
The media firm, which additionally owns greater than 200 different each day publications in addition to a number of hundred weeklies, reported web earnings of $15 million for the interval ended Sept. 30.
The earnings report got here after Gannett within the second quarter posted its first revenue because the 2019 merger of New Media Funding Group and the corporate previously often known as Gannett.
Within the third quarter of 2021, Gannett recorded whole income of $800.2 million, down 1.8% from a yr earlier. On a comparable foundation – a determine representing persevering with operations – income rose 0.9%.
Gannett’s inventory was down 5.7% to $5.94 at 10:13 a.m.
Gannett has been grappling with the industry-wide problem of declining print income for years however has been not too long ago growing its paid digital subscriptions.