We've Got Hollywood Covered

Washington Post Co. Turns a Profit in Q2, But Print Ads Down 15%

The company's broadcast and online publishing divisions earned extra money, largely due to political advertising at the D.C. broadsheet

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.

Also read: Washington Post Ombudsman Blasts Paper's Handling of Young Journalists

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.