April 16, 2010 Last Updated 1:25 pm

Gannett print revenue falls 7.1%, beating expectations; Gannett stock rises on declines, Google falls on gains

“It’s all a game” Harry Welsh says in Band of Brothers as he rides out the Battle of Bulge. Equally true of the stock market and the “expectations” of analysts.

Gannett reported earnings this morning: revenue declined 4.1 percent overall, while print declined 7.1 percent. Earnings were up 51 percent, however, thanks to declines in operating expenses. In other words, profits are up as body count went down. The result is that Wall Street applauds. Gannett’s stock is up in preopen trading and up 22 percent this year.

On the other side of the universe, Google yesterday reported that earnings rose to $1.96 billion last quarter because its revenue increased dramatically — 23 percent in Q1. Analysts, though, were not amused, punishing the stock after Google revealed that it was actually hiring people. The nerve!

It is indeed all a game.

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