Post-Newsweek 1Q Revenue Climbs 5%

The Washington Post Co. today reported first quarter financial results that included a 5% increase in revenue for its Post-Newsweek Stations division to $85.3 million, from $81.5 million in 2012.

The group’s operating income increased 14% to $35.4 million, from $31 million in the same quarter last year.

The company said the increase in revenue and operating income reflects growth in advertising demand across many product categories and increased retransmission revenues, offset by a $2.8 million decline in political advertising revenue.

The company’s cable television division revenue increased 5% to $200.1 million, from $190.2 million for the first quarter of 2012. The company said the revenue results reflect rate increases for many subscribers in June 2012, partially offset by a decline in basic video subscribers.

Cable television division operating income increased 12% to $36.6 million, from $32.8 million in the first quarter of 2012, due to increased revenues, partially offset by higher programming and depreciation costs.

For the company as a whole, revenue was $959.1 million, up slightly compared to $955.5 million in the first quarter of 2012. The company reported operating income of $23.1 million in the first quarter of 2013, compared to operating income of $21.3 million in the first quarter of 2012.

Operating results improved at the education, television broadcasting and cable television divisions, offset by a decline at the newspaper publishing division.

Read the company’s report here.