GCI - Gannett soars 12% as Q2 revenue rises Y/Y

Gannett (GCI +11.9%) is soaring following its Q2 earnings beating EPS and revenue estimates. Q2 total revenues rose rose 4.9% Y/Y to $804.3M, out of which digital revenues were $259.3M. Digital revenues rose 33% and digital marketing solutions revenue rose 21.5% over prior year same store. The company launched digital subscription model at USA TODAY with subscriber-only content. "Digital-only subscriber growth continued to set new records in the second quarter of 2021, ending the quarter at approximately 1.4M, up 41% compared to a year ago. Our Digital Marketing Solutions segment posted significant Y/Y growth and continued to grow platform client count sequentially each quarter,” said Gannett Chairman and CEO Michael Reed. Adjusted net income amounted to $30.06M, compared to loss of $5.18M in Q2 2020. Net income totaled $15.16M. "The company once again grew Adjusted EBITDA year-over-year, now for the third quarter in a row. With digital revenues making up approximately one-third of our total

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Gannett soars 12% as Q2 revenue rises Y/Y