U.S. publisher Lee Enterprises unveiled its strong growth in the third quarter, despite a continued slowdown in real estate advertising and struggling circulation.
The net income of the third quarter rose 83 percent to $19.9 million compared to $10.9 million a year ago. Revenues for the period last year went up moderately, from $216 million to $219 million, which represented a 1.4 percent gain.
Although lower real estate and automotive ads caused a 5.8 percent decrease to $74 million from $79 million last year, online ads were up nearly 60 percent to $16.6 million in Q3, from $10 million last year.
Lee announced its online revenue was up 57.5 percent to $56.3 million, and its combined newspaper Web sites reach more than 11.5 million unique visitors monthly, compared to its claimed 2 million users at the same time last year.
Moreover, although the online classifieds were strong, it was not enough to make up for reductions in print classified - Lee's print and online combined was flat in Q3, paidContent reports.

