Skip to comments.Washington Post profit down 67 percent!
Posted on 05/06/2011 7:34:44 PM PDT by Salvavida
WASHINGTON (AFP) The Washington Post Co. said Friday that revenue was flat in its newspaper publishing division in the first quarter but net profit fell by two-thirds on lower enrollment in its education business. The Post Co., which owns the Kaplan chain of schools and television outlets in addition to its flagship newspaper The Washington Post, said net profit was down 67 percent in the quarter at $15.2 million. Revenue was down seven percent in the quarter that ended on April 3 to $1.06 billion while earnings per share fell to $1.87 from $4.91 per share a year ago. The Post Co.'s results for the quarter included a $30.7 million write-down of its investment in Corintian Colleges. The Post Co. said newspaper publishing division revenue was nearly unchanged during the quarter at $155.0 million compared to $155.8 million a year ago. Print advertising revenue at The Washington Post fell eight percent to $63.2 million while online publishing revenue at the WashingtonPost.com and Slate rose eight percent to $25.7 million. Daily circulation for The Washington Post declined 2.9 percent during the period and Sunday circulation was down 3.4 percent. Like other US newspapers, the Post has been grappling with declining print advertising revenue and circulation and the migration of readers to free news online. The newspaper division reported an operating loss of $12.8 million compared to an operating loss of $13.8 million a year ago. The Post Co. said education division revenue fell 10 percent to $640.6 million on lower student enrollment at its Kaplan schools. Cable television division revenue edged up to $190.3 million from $189.4 million a year ago and while television broadcasting division revenue fell two percent to $72.2 million. Washington Post Co. shares were down 2.45 percent at $421.97 in early trading on Wall Street.
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ROFLOL! You got me Jack. I knew I was missing something.
WAPO is a Tyrannosaurus-type dinosaur that needs to go away. I’m in their media coverage area; when I read their headlines it makes me want to puke.
I’ll let it go this time, but next time, if you forget, I’ll have to ding ya for it! LOL!
Federally managed and subsidized student loans have caused unbelievable damage. None of these phony schools would exist without them. Many fewer idiotic, parasitic professors of victimology would exist without them. Higher education would be much more affordable and worthwhile without them. The national debt would be much less without them. The number of people under massive debt loads with little to show for it would be much fewer without them. The list goes on and on.
You would think after all these papers are sinking that one or two might think about facts, but no, they all want sink in the bias. It makes reason stare.
I think Cicero’s theory has merit. They took it in the shorts in their education division.....big time. Their circulation has flat-lined: what they lost in print, they made up in online circulation.
It amazes me why people would subscribe to that drivel when they can get much better for free.
Still, a 67% loss will bring folks into the boardroom. Shareholders are not going to tolerate zero growth circulation in the print division, in the only place in the USA where jobs are stable.
Good. Let them cover obama’s back all the way to the unemployment line.
The Washington Post couldn’t present a news story involving politics without a stench of bias clinging to every word.
I guess people don’t feel the need to pay money for US Government press releases ...
Soon our tax dollars will be used to keep them and ther NYT a float.
Without Kaplan there might be no Post at all
That’s available on Netflix!
Kaplan also is the single company holding up the NYT. Kaplan is being sheltered by the taxpayers.
And let’s add the NY Slimes. I want to see the Sultzberger clan have to go get a job!
Eventually, these Left leaning rags will no longer be required by the Leftists taking control of the nation... arm up.
Washington Post use to be a very reliable newspaper.
Now it is an idealogue that has a liberal agenda it is always pushing.
It isn’t worth the paper it is written on.
Thanks for posting this. It’s a great way to start off the weekend!
Come on, Washington Compost. Surely, you can do better than that. Try for 100%!