By: E&P Staff
Gannett Co. Inc. announced its projections for the reminder of the first quarter to analysts today. So far the company is seeing gains but remains cautious as the employment sector continues to stall despite economic growth.
Goldman Sachs released a report on Gannett today citing the company as an industry leader in terms of ad revenue growth.
Total Gannett newspaper ad revenue for February was up 6.4% compared with January’s 4% rise. February’s number is about twice as much as the industry growth rate of 3-4%.
Classifieds gained ground, up 8.4% from the previous month’s 5%. Help wanted growth boosted those numbers, more than doubling growth at 12.5% versus 5.1% in January. Real estate was at 7.1%, and auto ads inched up at 2.7%.