Reports Q2 revenue $584.86M, consensus $593.13M. “In the second quarter, we delivered sequential improvement across our key financial metrics, including Total Adjusted EBITDA with margins expanding to 11% from approximately 9%, net income attributable to Gannett (GCI), cash provided by operating activities, free cash flow, and our cash balance. In particular, we saw meaningful improvement in our digital advertising trends, which increased from a decline in the first quarter to an increase of 4% in the second quarter, and we expect digital advertising trends to further improve in the third quarter. We believe the momentum that we are seeing as we exit the second quarter underscores the merits of our strategy and supports our expectation for improved trends in the second half of the year,” said Michael Reed, chairman and CEO.
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