The McClatchy Company doesn’t break out internet revenue in its financials but included some figures during the 2Q05 earnings call. Echoing some of his colleagues who reported this week, Chairman Gary Pruitt said the internet revenues “continue to show the strongest growth of any area of our business.” Breaking out the numbers, he said, “Revenues were up 33.6 percent in the quarter and were up 35.1 percent to $27.9 million in the first half of 2005. We’re still seeing the strongest growth in classified ad revenues, particularly the employment category.” The company said the auto category made up more than 16 percent of total internet advertising.
McClatchy reported record 2Q05 earnings of $44.2 million compared to $40.1 million in 2Q04. McClatchy took in $302.8 million in revenue for 2Q05, up 2.2 percent from $296.3 million in 2Q04; ad revenue was up 3 percent to $255.5 million while circulation revenue dipped 2.3 percent to $41 million.
Q-and-A: Pruitt on local search: “We think it has great potential but, to date, it has had very little impact. We’re still rolling out the program … we’re in half now; we hope to be in all by the end of the third quarter. We’re hopeful by the end of the year that we’re starting to show some results that are promising. We do think the Yellow Pages business is at risk. รข
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