Gannett Co., the largest US newspaper publisher, said third-quarter profit fell 53 percent to $73.8 million, or 31 cents a share, from $158.1 million, or 69 cents, a year earlier, less than it forecast last month, as the rate of decline in print advertising sales abated. The stock rose to its highest level in a year.

Revenue dropped 18 percent to $1.34 billion in the three months through September.