Washington Post Co. reported a 13 percent slide in net income to $45.1M on a three percent rise in second-quarter revenues to the $1B mark.
The loss widened at the Washington Post-led newspaper unit to $14.8M from $12.6M a year ago. Unit revenues dipped one percent to $139.2M.
WaPo print ad revenues dipped four percent to $54.5M during the quarter as retail and general advertising declined. Online revenues from washingtonpost.com and slate.com rise 15 percent to$29.8M.
The Post’s daily and Sunday circulation dropped 7.1 percent and 7.6 percent, respectively. Daily circ totaled 447,700, while the paper sold 646,700 papers on Sunday.
WaPo spent $8.4M in Q2 for its voluntary retirement incentive program. That’s down from $12.0 in Q1.
The paper recently began charging frequent visitors to its website. Results from that paywall construction will be reflected in the third-quarter financials.
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