Gannett Co. Q4 Profit Tops Estimates - Quick Facts

(RTTNews) - Gannett Co. Inc. (GCI) reported fourth-quarter net income to company of $676.03 million or $2.92 per share, compared to $90.75 million or $0.39 per share, prior year. Adjusted earnings per share was $1.02, for the quarter.

On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $1.00 for the quarter. Analysts' estimates typically exclude special items.

Net operating revenues increased to $1.70 billion from $1.37 billion last year. Analysts expected revenue of $1.74 billion for the quarter.

Gannett also announced that the company is resuming its share buyback program authorized in June 2013 and suspended in August 2014. There is approximately $150 million remaining under the current authorization.