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News
Tribune profits down
January 26, 2001: 8:22 a.m. ET

Media company beats lowered forecasts, but EPS down on falling ad sales
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NEW YORK (CNNfn) - Tribune Co., reported lower fourth-quarter earnings per share Friday that beat reduced forecasts on Wall Street.

The Chicago-based publisher of the Chicago Tribune and Los Angeles Times said it earned 36 cents a share in the quarter, down from 44 cents a share a year earlier.

The results topped analysts' lowered forecasts of 34 cents a share, according to earnings tracker First Call.  Wall Street lowered its estimates after the company warned of declining ad revenue in December.

Revenue increased 2 percent to $1.5 billion from about $1.47 billion a year ago.

Shares of Tribune (TRB: Research, Estimates) fell 75 cents to $38.38 in afternoon trade Friday. graphic




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