Post Sees 1Q Profit Decline

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