Earnings | Reminder: Q3 results out tomorrow

Gannett reports third-quarter financial results Friday morning before stock markets open, and Wall Street is expecting higher earnings than a year ago on stronger TV advertising sales from political campaigns.

On average, Wall Street media stock analysts expect GCI to report earnings per share of 50 cents vs. 44 cents in the third quarter of 2009. They're forecasting revenue of $1.33 billion, down slightly from $1.34 billion.

The company's broadcasting division, which largely reflects results of its 23 TV stations, usually does well during major elections, and this year is no exception. Candidates and their campaigns have been spending big in advance of Congressional, state and local elections in early November.

GCI generally posts its results in the investor relations section on Corporate's website. Expect to see a statement between 8 a.m. and 8:30 a.m. ET. Then, at 10 a.m., CEO Craig Dubow and President and Chief Operating Officer Gracia Martore will lead a conference call with analysts to discuss the financial results. That call will be webcast, and is open to the public, although only the analysts will be allowed to ask questions. Webcast information is here.

Investors appear to be expecting a favorable report, based on trading in GCI shares. They traded recently for $13.96 a share, down less than 1%. Still, they are now nearly 11% higher than a week ago.