Gannett (NYSE: GCI) reported earnings on July 16. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended June 24 (Q2), Gannett met expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue contracted slightly and GAAP earnings per share shrank significantly.

Gross margins improved, operating margins dropped, net margins dropped.

Revenue details
Gannett reported revenue of $1.31 billion. The seven analysts polled by S&P Capital IQ expected a top line of $1.32 billion on the same basis. GAAP reported sales were 2.1% lower than the prior-year quarter's $1.33 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.56. The 11 earnings estimates compiled by S&P Capital IQ anticipated $0.53 per share. GAAP EPS of $0.51 for Q2 were 18% lower than the prior-year quarter's $0.62 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 44.8%, 20 basis points better than the prior-year quarter. Operating margin was 17.0%, 160 basis points worse than the prior-year quarter. Net margin was 9.2%, 220 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $1.30 billion. On the bottom line, the average EPS estimate is $0.50.

Next year's average estimate for revenue is $5.27 billion. The average EPS estimate is $2.18.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 321 members rating the stock outperform and 122 members rating it underperform. Among 131 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 97 give Gannett a green thumbs-up, and 34 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Gannett is outperform, with an average price target of $16.33.

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