Gannett Co. Inc. GCI on Thursday posted a fourth-quarter profit of $40.68 million, or 17 cents a share, against a year-ago loss of $22.45 million, or 17 cents a share. The media company beat the earnings target of 16 cents a share in a survey of Wall Street analysts by FactSet. Gannett’s fourth-quarter revenue fell to $730.66 million, from $826.54 million in the year-ago quarter. The company missed the analyst estimate for $744.5 million in revenue. For 2023, Gannett expects full-year revenue of $2.75 billion to $2.8 billion, compared to the analyst estimate of $2.83 billion. Gannett stock is up 27.1% in 2023, compared to a 4% rise by the S&P 500 Index SPX.
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