Earnings: Washington Post — Online Increases Offset Print Declines But Profit Down

Net income dipped 7 percent during 2Q05 at The Washington Post Company , $78.8 million down from $84.9 million in 2Q04. The education division helped push revenues up 10 percent to $897.6 million from $818.4 million in 2004. Newspaper publishing, which includes online, eked out a 1 percent revenue increase to $236.3 million from $234 million the previous year. But division operating income dropped 28 percent to $27 milion fron $37.7 million in 2Q04. Online was up 21 percent to $18.7 million from $15.4 million in 2Q04 while online local advertising was up 36 percent and national rose 38 percent. On the newspaper side, in the first half of ’05 the Post lost 4 percent of its daily and 3.5 percent of its Sunday circ.
From the fine print: operating results for 2005 include losses from Slate.
Earnings release.

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