The media company, which operates the nation’s largest newspaper chain, said it earned $103.1 million, or 44 cents a share, in the October-December period. That was down from $116.9 million, or 49 cents a share, a year earlier.

Revenue grew to $1.52 billion from $1.39 billion.

Adjusted earnings were $207.3 million, or 89 cents a share, in the latest quarter. The figures exclude one-time charges related to the elimination of jobs, a consolidation of facilities and other items. A year ago, Gannett’s adjusted earnings were 72 cents a share.

Analysts, on average, were expecting earnings of 88 cents a share on revenue of $1.5 billion, according to a poll by FactSet.

Gannett owns USA Today and 81 other newspapers, 23 television stations and several digital businesses.

Companywide digital revenue increased 29 percent and accounted for a quarter of all revenue, Gannett said.

Gannett began charging newspaper readers for online access last year, erecting so-called paywalls at most of its newspapers. At the same time, the company raised prices of single-copy newspapers and print subscriptions.

Gannett said the newspaper division had revenue of $1.04 billion, up 4 percent from $1 billion last year. Circulation revenue grew 17 percent to $313 .1 million from $268.1 million. Advertising revenue fell 2 percent to $657.5 million from $670.7 million.

Broadcasting revenue soared 44 percent to $287.5 million from $199.8 million, helped by political advertising.

Gannett warned that its TV advertising revenue would be hurt this quarter by the absence of political ads and the Super Bowl’s move from NBC to CBS.

Article source: http://www.nytimes.com/2013/02/05/business/media/gannett-posts-lower-income-but-higher-revenue.html?partner=rss&emc=rss