Lee Reports Lower Revenue & Earnings

Aug 3, 2018

Earnings and revenue fell for Lee Enterprises in the third quarter. Friday the media company based in Davenport and owner of the Quad City Times, reported net income during April, May, and June of 4.8 million dollars - down from 6.3 million a year ago.

On a per-share basis that's 8 cents, compared to 11 cents during last year's 3rd quarter.

While overall advertising revenue dropped 9.5 per cent, revenue from digital advertising and marketing rose 4.7 per cent, and now represents one-third of overall ad revenue. Visits to Lee's mobile, tablet, desktop, and app sites averaged more than 73 million per month, an increase of nearly 15 per cent. 

Lee Enterprises owns daily and weekly newspapers, and specialty publications, in 49 markets across the county, including Bloomington, Illinois, Muscatine, Iowa, and St. Louis.