The Washington Post Company's second quarter profit increased 13.6 percent since last year, largely thanks to political ad buys in its broadcast division.
But despite a net income of $51.8 million — up from $45.6 million a year earlier — the company's $1 billion revenue dropped by five percent.
The Post's newspaper branch continued to bleed money. Print advertising revenue continued to fall — down 15 percent since 2011 — as print circulation fell 9.3 percent daily and 6.1 percent for the Sunday edition in 2012.
And even with a first-quarter dip in digital revenue, the company's online publishing revenues climbed eight percent compared to the same quarter last year. A 14 percent increase in online display advertising drove the second-quarter spike, which was offset slightly by a 2 percent drop in digital classified revenue.
The television division's operating income for the second quarter increased 34 percent to $43.7 million.
Meanwhile, Kaplan — the Post's education arm that once carried the company and accounts for 55 percent of the whole company's revenue — saw a revenue decrease of nine percent despite selling two units, Kaplan Learning Technologies and EduNeering.