Lee Enterprises reports Q1 EPS 12c vs 19c last year

Reports Q1 revenue $155.678M vs $185.131M last year. “Our Three Pillar Digital Growth Strategy is driving audience growth, improving consumer engagement, and increasing digital subscribers. We now have 735,000 subscribers to our digital-only products and digital-only subscription revenue grew 60% on a Same-store basis,” said Kevin Mowbray, Lee‘s President and Chief Executive Officer. “Because of our impressive digital subscription revenue growth combined with solid gains at Amplified Digital, digital revenue reached 46% of total operating revenue in the quarter. We expect digital revenue will exceed print in the back half of the year. This is an important milestone in our digital transformation as it results in the majority of our revenue coming from sustainable and growing sources,” Mowbray added.