McClatchy Increases Digital-Only Subscriptions for 11th Straight Quarter
Company sees digital growth but is still reporting big losses.
Last week, McClatchy (NYSE: MNI) reported growth in digital-only subscribers for the 11th consecutive quarter. The 162-year-old company now has 155,000 digital-only subscribers, a 51.1 percent increase year-over-year. The company also saw a 10.1 percent increase in digital-only advertising revenue compared to Q4 2017, but the news wasn’t all good. Perhaps the most significant item to come out of the company’s fourth quarter financial report was a fourth quarter net loss of $27.5 million, or $3.52 per share. In Q4 2017, the company had net income of $61.1 million, or $7.91 per share.
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