WaPo Earnings Drop By Half
The Washington Post Company reported net income of $45.6 million for the second quarter of 2011, down from $91.9 million a year prior.
Revenue was $1,073.0 million, down 10% from Q2 2010’s $1,197.4 million.
Kaplan Higher Education, the test-prep company owned by the Post which provides the bulk of the company’s revenue, didn’t do too well this quarter either, with Kaplan revenue down 15 percent. In fact, on purely percentages, the Post’s publishing division’s revenue declined less–just 6 percent.
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