McClatchy Beats Earnings Predictions, Touts Digital Investments

McClatchy (NYSE: MNI) Company’s fourth quarter operating earnings beat analysts’ predictions, while the newspaper chain also reported an overall boost from investments in online properties like Cars.com and Apartments.com.

In figures released this morning, McClatchy announced earnings of $0.49 per share which surpassed analyst predictions of $0.35. Total operating income for the quarter was $90.3 million, compared to $89.3 million a year ago.

Overall, it appears McClatchy’s deep cost-cutting and ongoing debt reduction have resulted in a stable business operation that is being supplemented by successful online investments. Dividends from these investments, which also include CareerBuilder.com, together contributed ...

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