Monday, April 18, 2011

Stock | GCI closes 4% higher after Q1 report

Investors shrugged off Gannett's slight miss in first-quarter revenue, boosting GCI's stock this afternoon to a close of $15.39, up 59 cents, or 4%. That's according to Google Finance's preliminary data.

Stock markets overall were down sharply. Both the Dow Jones Industrial Average and the S&P 500 Index closed about 1% lower.

Corporate said in its earnings report that company-wide revenue fell 3.7%, to $1.25 billion; analysts had forecast $1.26 billion. However, earnings per share of 41 cents was right on target, after allowing for special charges that included layoff-related costs.

1 comment:

  1. A screaming buy. The branding campaign is working. Take that, whiners.


Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."

Note: Only a member of this blog may post a comment.