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:
Trackback from your site.