The broadcast TV division is the Washington Post Co.’s only one to report increased operating results as revenue rises to $43.7 million.
The Washington Post Co. today reported second quarter financial results that included a 13% increase in revenue for its television broadcasting division to $95.6 million, from $84.9 million in the same period of 2011.
The division’s operating income for the second quarter increased 34% to $43.7 million, from $32.6 million a year ago.
The company said the increase in revenue and operating income reflects improved advertising demand across many product categories, including a $4.4 million increase in political advertising revenue in the second quarter. Expense reductions from various cost control initiatives also contributed to the improvement in operating results.
The company’s cable television division revenue increased 2% in the second quarter of 2012 to $195.6 million, from $191.2 million for the second quarter of 2011. Cable television division operating income decreased 5% to $38.4 million, from $40.4 million in the second quarter of 2011. The division’s operating income declined primarily due to increased programming costs.
For the company as a whole, revenue for the second quarter of 2012 was $1,006.9 million, down 5% from $1,061.3 million in the second quarter of 2011. The company reported operating income of $60.4 million, down from $82.1 million in the second quarter of 2011.
Revenues were down at the education and newspaper publishing divisions, offset by increases at the television broadcasting and cable television divisions. Operating results were down at all of the company’s divisions, except for the television broadcasting division.
Read the company’s report here.