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Published on July 24th, 2015 | by Sacramento Business Journal

Earnings for parent company of Sacramento Bee plummet dramatically second quarter

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Sacramento-based McClatchy Co. reported Friday it made a negligible profit of $98,000 in the second quarter, down sharply from nearly $90 million in the same quarter last year.

Revenue was down less dramatically, to $262 million from $287 million in 2014.

A major factor in the profit drop was lower investment earnings. Last year in the second quarter the company reaped a $146 million pretax gain from sale of assets, including its interest in the site Apartments.com.

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Sacramento Business Journal

The Sacramento Business Journal has been covering vital business stories in El Dorado, Placer, Sacramento and Yolo counties for more than 25 years.



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