The company reported a third-quarter profit of $174.8m (£120.6m) against $208.3m (£143.7m) last time. The figures were in line with Wall Street expectations.
Gannett, which through its ownership of Newsquest is also one of the largest regional newspaper publishers in the UK with a portfolio of nearly 300 titles, warned last month that its third-quarter earnings would be down as by as much as 20%.
Gannett reported revenues down 2.6% to $1.52bn (£1.05bn) from $1.56 bn (£1.08bn), a decline of 3%.
The company said newspaper operating cash flow was $401.8m (£277.2m) down from $446.5m (£308.1m) last time. At its flagship newspaper USA Today, it reported advertising pages down by 21% in the third quarter from 1,502 last time.
Douglas H McCorkindale, chairman, president and CEO said, "The events of September 11 once again confirmed the importance of our business: news and information are crucial to the well being of our readers and viewers and the communities we serve. But these same events accelerated declines in an already challenging domestic advertising environment."
He added: "Overseas, our Newsquest properties continue to make solid contributions to cash flow and earnings. And stringent cost controls and significantly lower interest expense helped to mitigate the impact of the weak advertising environment."
In the UK, Newsquest publishes more than 300 newspapers and magazines, including the Bolton Evening News, Oxford Mail and the Evening Argus in Brighton.
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