Earnings: Journal Communications Q2 Income, Revs Down; Journal Sentinel Online Up 47 Percent

Journal Communications (NYSE:JRN) said its Q2 profits were down 7.2 percent to $14.2 million compared to $15.2 million a year ago. Revenue for the quarter slid 4.3 percent to $147.5 million from $154 million in Q206. JC said its income and revenue were adversely affected by quarterly declines in retail ads, employment and real estate. Secondly, it posted softer-than-expected auto advertising across its local broadcast markets.The Milwaukee-based newspaper publisher and broadcaster’s Q2 results also included:

— Publishing revenues of $67.6 million, a fall of 7.4 percent.

— The Milwaukee Journal Sentinel continued to see increases in interactive revenue, which was up almost 47 percent to $3.4 million in the quarter compared to $3.2 million in Q206. Journal Sentinel’s recent strategic agreement with Monster.com with boosting the paper’s online revenue.

— In the broadcast group, interactive revenue also continues its positive growth trajectory, reaching almost $700,000 in the second quarter.
Earnings release | Webcast (11:00 a.m. EST)

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