Washington Post Q2 profit soars
The Washington Post Co's
For the second quarter, the newspaper publisher's net income from continued operations rose to $94.2 million, or $10.25 per share, from $21.2 million or $2.25 per share, a year ago.
Net income for the second quarter excludes Newsweek results.
Earlier this week, the company said it would sell Newsweek to 91-year-old audio equipment magnate Sidney Harman, who promised to retain most of the U.S. weekly's 350 employees and give it a couple of years to reverse losses.
Revenue grew 11 percent to $1.2 billion. Revenue for the television broadcasting division increased 24 percent to $82.6 million.
Revenue at its educational unit rose 15 percent to $747.3 million.
The newspaper publishing division saw its revenue rise 2 percent to $172.7 million during the quarter.
Shares of the company closed at $408.61 Thursday on the New York Stock Exchange.
(Reporting by Mansi Dutta in Bangalore; Editing by Saumyadeb Chakrabarty)
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