By: E&P Staff A report issued by Goldman Sachs predicts the rebound in help-wanted advertising will continue to gain steam in the second quarter as many newspaper companies report solid April results. The investment firm estimates that help-wanted revenues will increase approximately 10% for Q2 versus 8% in Q1.
For the industry, the report expects a slow down in revenue growth for April after a brisk March. Overall advertising revenue for April is expected to be up around 5%-6% as opposed to March's 8.7% increase.
National advertising revenue is also supposed to post gains, though the report warns that the category is "particularly volatile on a month-to-month basis." Most likely, retail will continue to lag, due to softness in department store advertising.
The investment firm singled out Gannett Co. Inc. and Dow Jones & Co. as April's industry leaders. Gannett reported that advertising revenues for its newspaper division were up 8.8% in April. And Dow Jones reported a 7.5% increase in ad lineage for The Wall Street Journal.
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