WaPoCo Still Making Money

Rest assured Washingtonians: Newspapers may be dying, but the Washington Post is still making money–largely, of course, thanks to its non-newspaper business divisions.

Despite big advertising drops at Newsweek and an increase in newsprint costs, the Post’s first quarter report shows an increased profit to $66.6 million ($6.87 per share) from $59.4 million ($6.15 a share) a year ago, primarily because of strong growth in the company’s Kaplan educational division.

Whatever any of that means. We skipped financial accounting in college.