Company’s digital revenue exceeds expectations, driving stock up
- Gannett shares surge 30% after digital business growth
- Revenue exceeds Wall Street expectations
- Digital revenue up 8.1%, digital-only subscription revenue up 21%
- Total revenue down 5% to $635.8 million
- Gannett posts a loss of $84.8 million in Q1
Shares of Gannett rose sharply after the company’s digital business continued to grow, pushing revenue ahead of Wall Street expectations. The stock was up 30% to $3.14 in midday trading, reaching its highest level since August. Gannett, the owner of USA Today, reported increases in revenue in its digital business, despite a drop in overall revenue. Total revenue was down 5% to $635.8 million, but exceeded analysts’ expectations. The company’s digital revenue was up 8.1%, with digital-only subscription revenue up 21%. Gannett posted a loss of $84.8 million in the first quarter, compared to a profit of $10.3 million in the same period last year.
Factuality Level: 8
Factuality Justification: The article provides factual information about Gannett’s financial performance, including details about revenue, stock performance, and digital business growth. The information is based on reported figures and analyst expectations, without any obvious bias or sensationalism.
Noise Level: 3
Noise Justification: The article provides relevant information about Gannett’s financial performance, specifically focusing on its digital business growth and revenue exceeding expectations. It includes key details such as revenue figures, stock performance, and profit/loss numbers. The article stays on topic and supports its claims with data and examples. However, it lacks in-depth analysis, accountability, or actionable insights, which prevents it from receiving a higher rating.
Financial Relevance: Yes
Financial Markets Impacted: Shares of Gannett
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses the rise in shares of Gannett and its revenue performance.
Public Companies: Gannett (not available)
Key People: Ben Glickman (Author)
Reported publicly:
www.marketwatch.com 
