Washington Post quarterly revenues rise
The Washington Post company has reported higher quarterly revenues for the fourth quarter of 2009. I
Its profit rose to $82.2m from $18.8m a year ago, while the yearly profit rose to $91.2m from $65.8m the previous year.
The company said it recorded a strong revenue growth in education and cable divisions, even as revenues at its newspaper and magazine publishing and TV broadcasting operations have declined.
Revenue from the education division increased by 16 per cent in the fourth quarter to $709.3m; in the cable television division, it rose by four per cent to $190.6m. The television broadcasting division revenue declined by seven per cent to $80.2m.
Earnings from newspaper publishing division fell by four per cent in the fourth quarter to $193.3m. Revenue from newspaper publishing division and print advertising fell by four per cent and nine per cent respectively to $193.3m and $92.6m.
However, its online revenue rose by one per cent to $31.5m in the fourth quarter.
Washington Post had adopted harsh cost-cutting measures such as closing its last domestic bureaus in the US and cutting hundreds of its staff.