GCI - Gannett GAAP EPS of -$0.09 misses by $0.03 revenue of $672.36M misses by $14.34M

2023-08-03 07:24:15 ET

• Gannett press release ( NYSE: GCI ): Q2 GAAP EPS of -$0.09 misses by $0.03 .
• Revenue of $672.36M (-10.2% Y/Y) misses by $14.34M .
• Same store revenues decreased 8.6% compared to the second quarter of 2022, reflecting a sequential improvement of 70 basis points compared to the first quarter of 2023
• Total digital revenues were $262.1 million, or 39.0% of total revenues, up 0.8% over the same period in the prior year on a same store basis
• Digital-only subscription revenues of $37.9 million grew 16.6% year-over-year and increased 17.3% year-over-year on a same store basis
• Digital-only paid subscriptions of 1.95 million at the end of the second quarter of 2023, up 4.6% compared to same period in the prior year
• Digital-only average revenue per user of $6.35 increased 6.2% year-over-year, reflecting the execution of our refined acquisition strategy with a heightened focus on profitability and digital-only average revenue per user
• 185 million average monthly unique visitors in the second quarter of 2023 with 134 million average monthly unique visitors coming from our USA TODAY NETWORK (based on June 2023 Comscore Media Metrix) and 51 million average monthly unique visitors resulting from our U.K. digital properties

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