The absence of Winter Olympics revenue this year isn’t enough to offset broad increases in other advertising categories.
Washington Post 2Q TV Revenue Up 3%
The Washington Post Co. today reported that revenue for its six TV stations increased 3% in the second quarter of 2011 to $84.9 million, from $82.6 million in 2010; operating income for the second quarter of 2011 increased 9% to $32.6 million, from $29.8 million in 2010.
The company said the increase in revenue and operating income is due to overall improved advertising demand across many product categories, offset by the absence of $4.7 million in incremental winter Olympics-related advertising in the first quarter of 2010, and a $2.5 million and $4.3 million decrease in political advertising revenue for the second quarter and first six months of 2011, respectively.
For the company as a whole, 2Q revenue was $1,073.0 million, down 10% from $1,197.4 million in 2010. Operating income was $81.1 million in the second quarter of 2011, compared to operating income of $166.9 million in 2010. Revenues were down at the education and newspaper publishing divisions, while revenues were up at the television broadcasting and cable television divisions. Operating results declined at the education and cable television divisions and improved at the television broadcasting division.
Read the company’s report here.