Washington Post Reports Robust Quarterly Revenue
Washington Post Reports Robust Quarterly Revenue

The Washington Post Co. on Wednesday announced higher quarterly revenue attributing its strengthening education and cable television units, overshadowing declines at its newspaper and magazine divisions.

It reported its profit to rise to $82.2 million, or $8.71 a share, from $18.8 million, or $2.01 per share, a year earlier, when the company witnessed a large charge related to the declining value of some of its smaller newspapers.

Moreover, its revenue jumped 6 percent to $1.24 billion from $1.16 billion. Revenue in its education unit, which includes the Kaplan test preparation business, reportedly rose by 16 percent to $709.3 million.

While Kaplan and its cable TV operations appeal to investors, the company is widely known for the Washington Post newspaper, Newsweek magazine and its other publishing properties, whose net revenue is revealed to slip by
4 percent in the fourth quarter and 15 percent for the entire year.

The company, which announced in November that it would close its last U. S. bureaus outside the nation's capital, continues to get wounded by chronic weakness in newspaper advertising that is hampering the entire industry.

Washington Post shares were up $6.09 to $418.60 on the New York Stock Exchange in early trading.

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