CHICAGO (MarketWatch) -- Newspaper publisher McClatchy Co., which just closed its acquisition of Knight Ridder late last month, said Thursday that its second-quarter earnings were about flat with those of the same quarter last year, excluding the impact of stock-related compensation in the latest three months.
McClatchy said it earned $44.1 million, or 94 cents a share, compared with a profit of $44.2 million, or 94 cents a share, in the prior year. Including stock-based compensation expense, the company said it would have earned 96 cents a share.
Revenue was also flat at $304.2 million.
Analystst polled by Thomson First Call were expecting a profit of 88 cents a share on revenue of $304.5 million.
The stock was up 2.6% at $41.61 Thursday afternoon.
Total advertising revenue rose 2.2% to $79.9 million.
"The advertising environment was much like the first quarter, although we were pleased to see a rebound in retail advertising revenues," said Gary Pruitt, McClatchy's chairman.
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