The Washington Post Co. said the increase at its broadcast television division reflects improved advertising demand across many product categories, including a $2.2 million increase in political revenue.
QUARTERLY REPORT
Post-Newsweek Stations 1Q Revenue Up 13%
Revenue for the Washington Post Co.’s television broadcasting division increased 13% in the first quarter of 2012 to $81.5 million, from $72.2 million in 2011; operating income for the first quarter of 2012 increased 58% to $31.0 million, from $19.6 million in 2011.
The company said the increase in revenue and operating income reflects improved advertising demand across many product categories, including a $2.2 million increase in political advertising revenue.
Expense reductions from various cost control initiatives also contributed to the improvement in operating results.
Cable television division revenue for the first quarter of 2012 was $190.2 million, flat compared to $190.3 million for the first quarter of 2011. The revenue results reflect continued growth of the division’s internet and telephone service revenues, offset by an increase in promotional discounts and a decline in basic video subscribers.
Cable television division operating income decreased 13% to $32.8 million, from $37.7 million in the first quarter of 2011. The division’s operating income declined primarily due to increased programming and sales costs.
The company as whole reported revenue for the first quarter of 2012 was $972.5 million, down 7% from $1,041.9 million in the first quarter of 2011.
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Read the company’s report here.
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