By: (AP) Pulitzer Inc., publisher of the
St. Louis Post-Dispatch and the
Arizona Daily Star in Tucson, beat Wall Street earnings estimates by a nickel when it reported third-quarter earnings Tuesday.
Pulitzer earned $8.67 million, or 40 cents a share, on revenue of $103.5 million. The mean expectation of analysts was for earnings of 35 cents a share, according to Thomson First Call.
The St. Louis-based company earned $1.54 million, or 7 cents a share, on revenue of $100 million in last year's third quarter.
Pulitzer attributed the improved results to strong growth in retail and national advertising.
Based on third-quarter results, Pulitzer raised its full-year forecast for earnings before items to between $1.73 and $1.80 a share, an increase of more than 20% from last year's, before items, of $1.44 a share.
Analysts expect full-year earnings of $1.66 cents a share.
Pulitzer shares traded Tuesday afternoon at $47.30, up 68 cents, or 2%, on the New York Stock Exchange.
Apart from its two major metropolitan dailies, Pulitzer operates 12 other daily newspapers and a group of 37 weekly papers and niche publications.
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