The Washington Post Company (NYSE: WPO) 1Q net income was $64.4 million compared to last year’s $76.9, a 16 percent decline. Revenue rose 4 percent to $985.6 million. Looking at the company’s individual units’ performance for 1Q:
– Newspapers: Revenue totaled $219.2 million, a 10 percent decrease from the prior year’s $243.5 million. Division operating income was down 53 percent to $14.9 million, from $32.0 million in 1Q06. WaPo’s print ad revenue fell 16 percent to $125.1 million, from $149.8 million year-over-year. In the case of the division’s online units, represented primarily by washingtonpost.com, that segment rose 10 percent to $25.1 million in 1Q versus $22.8 million the year before. Display online advertising revenue grew 20 percent, and online classified advertising revenue on washingtonpost.com increased 4 percent.
– Magazines: Revenue was $61.2 million, an 18 percent slide from $74.8 million in 1Q06.
– CableTV: Citing growth in the division’s cable modem and digital revenues, the total revenue for the division was $149 million, up 10 percent over 1Q06′s$135.2 million. Earnings release