McClatchy Beams about Quarterly Profits Boost

McClatchy announced that its recent acquisition of Knight Ridder helped boost quarterly profits, with net income rising to $51.8 million from $38.6 million this time last year.

The company's revenue increased to $680.9 million from last year's $292.6 million, coming up short on analysts' predictions of $702.5 million. The largest contribution to the revenue boost was the acquisition of Knight Ridder.

CEO Gary Pruitt warned in a statement that the year ahead looks to be one of slowing down in the company's ad-revenue landscape as advertisers flock online.

Mc Clatchy publishes two Spanish-language dailies: Diario La Estrella in Dallas/Ft.. Worth and El Nuevo Herald in Miami.

For more information read:

How Much are Knight Ridders Spanish-language Dailies Worth?


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