Newspaper publisher Washington Post Co. said Friday its first-quarter profit fell 16 percent on weakness in print publishing and sharply higher operating expenses.
Earnings available for common stock dipped to $63.9 million, or $6.72 per share, versus $76.4 million, or $7.98 per share, in the prior year.
Analysts polled by Thomson Financial expected net income of $8.73 per share.
Quarterly revenue rose 4 percent to $985.6 million from $948.3 million on revenue growth at the education and cable television divisions.
Consensus estimates put sales at $992.5 million.
Newspaper publishing revenue dropped 10 percent to $219.2 million. Print advertising revenue at The Post slipped 16 percent to $125.1 million. Magazine publishing revenue slid 18 percent to $61.2 million. Revenue at the broadcast division declined 6 percent to $80.8 million.