The Washington Post Company reported Q3 revenues of $1.02 billion, up 8 percent from last year’s $946.9 million. Net income dipped to $72.5 million, compared to $73.3 million in Q306, but earnings per share were flat at $7.60. Stripping out one-time items in both quarters, net income dropped 13 percent to $66.6 million from $76.8 million. Some highlights:
– Online revenues in the newspaper segment, mostly from washingtonpost.com, increased 11 percent to $27.2 million. Display revenue grew 15 percent, while online classifieds increased 12 percent.
– The newspaper publishing division suffered from the same problems as the rest of the industry, with revenue declining 7 percent to $210.2 million. Print advertising revenue at The Post fell 13 percent to $113.1 million. Real estate, classifieds and retail were particularly weak.
– Magazine publishing revenue of $62.5 million came in 18 percent lower than last year. The company said a small portion of its total online revenue comes from magazine publishing.
– Growth came in cable TV (its CableOne business), which was up 11 percent to $157.8 million, helped by an increase in data and digital subs. Education was up 22 percent to $514.6 million.