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Revenue Rises at Washington Post Online Arm

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NEW YORK The Washington Post Company said today that second-quarter revenue from its online publishing operations, primarily washingtonpost.com, grew 27 percent to $11.1 million versus $8.7 million in the year-ago quarter.

Local and national online ad revenue rose 47 percent in the quarter, while revenue at the jobs section increased 24 percent in the second quarter.

Overall Q2 revenue for The Washington Post Company, which encompasses newspaper and magazine publishing, television broadcasting and cable TV operations, totaled $706.9 million, up 9 percent from $647.7 million in Q2 2002. Net income was $60.6 million, or $6.32 per share, for the second quarter, compared to $51.1 million, or $5.34 per share, in the year-earlier period.

Two weeks ago, New York Times Digital reported that second-quarter revenue for its online properties, which include NYTimes.com and Boston.com, rose nearly 22 percent to $21.6 million from $17.8 million during the same time a year ago [IQ Daily Briefing, July 17]. The New York-based online unit of The New York Times Company attributed the increase to higher advertising revenue resulting from increased volume.