Automotive, Olympics and political advertising increases are behind the jump to $83.2 million.
Washington Post 3Q TV Revenue Rise 29%
Third quarter revenue for the Washington Post Co.’s television stations increased 29% to $83.2 million, from $64.6 million in 2009; operating income for the third quarter of 2010 increased 68% to $25.3 million, from $15.1 million in 2009.
The company said the increase in revenue and operating income is due to improved advertising demand in all markets and most product categories, particularly automotive.
The increased revenue and operating income also includes $5.1 million in incremental winter Olympics-related advertising at the company’s NBC affiliates in the first quarter of 2010, and a $9 million and $14.5 million increase in political advertising revenue for the third quarter and first nine months of 2010, respectively.
At the Post’s cable television division, revenue declined slightly for the third quarter of 2010 to $188.7 million, from $189.6 million for the third quarter of 2009. Cable division operating income was $40.3 million for the third quarter
The company as a whole reported revenue for the third quarter of 2010 of $1,189.7 million, up 7% from $1,108.8 million in the third quarter of 2009, due to increased revenues at the education, television broadcasting and newspaper publishing divisions, offset by a small decrease at the cable television division. Operating income increased in the third quarter of 2010 to $130.6 million, from $74.6 million in the third quarter of 2009, due to improved operating results at the education, television broadcasting and newspaper publishing divisions.