Washington Post has reported a 77% decrease in profit in the fourth quarter. The company blamed the decrease in earnings on advertising which has had its toll on the entire publishing industry. 

Net income decreased to $18.8 million, or $2.01 per share, from $82.9 million, or $8.71, a year earlier. However, sales showed 3 percent gain to $1.16 billion. This was achieved by a revenue increase in the education division. 

The newspaper reported earnings of $18.8 million, or $2.01 a share, compared with earnings of $82.9 million, or $8.71 a share, in the same quarter a year earlier. The company was compelled to write down the value of some assets, including a $75.7 million impairment charge related to declining value of some of its smaller newspapers along with other items.

However, the company has reported a significant growth in the company's education and cable units. This has helped in maintaining a better balance sheet. Revenue from the education division increased 13% hitting $609 million. Cable TV revenue increased by 11 % to $184 million for the quarter.