The increase from last year’s quarter to $106.4 million comes from stronger advertising demand, including political and Olympics, plus retransmission consent gains.
QUARTERLY REPORT
Post-Newsweek 3Q Revenue Soars 44%
The Washington Post Co. today reported third quarter financial results that included revenue for its Post-Newsweek TV station group of $106.4 million, an increase of 44% from $73.8 million in the same period of 2011. The group’s operating income more than doubled to $54.1 million, from $24.1 million in the year-ago period.
The company said the increase in revenue and operating income for the third quarter reflects improved advertising demand across many product categories. This includes a $15.6 million increase in political advertising revenue; $10.8 million in incremental summer Olympics-related advertising at the Company’s NBC affiliates; and increased retransmission revenues.
The company’s cable television division revenue increased 6% in the third quarter of 2012 to $199.6 million, from $187.9 million for the third quarter of 2011.
Newspaper publishing division revenue totaled $137.3 million for the third quarter of 2012, down 4% from revenue of $143.5 million for the third quarter of 2011.
Read the company’s report here.
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