Gannett expects 3Q earnings to top expectations

MCLEAN, Va. — Gannett Co., the largest newspaper publisher in the U.S., says it expects third-quarter earnings to far outpace expectations despite a shortfall in revenue.

Shares rose 65 cents, or 6.5 percent, to $10.63 in premarket trading.

The McLean, Va.-based company anticipates earnings of 25 cents to 31 cents per share on sales of $1.31 billion to $1.32 billion.

Adjusted to exclude special charges related to layoffs and other items, the company says it expects earnings per share between 39 cents and 42 cents.

On that basis, analysts project 28 cents per share on sales of $1.38 billion, according to a Thomson Reuters poll.