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Washington Post's profits dive by 50%

Guardian ^ | 8/5/11 | Mark Sweney

The Washington Post has reported a 50% plunge in profits for the second quarter of 2011, as advertising revenue at its print and online businesses suffered double-digit declines. The Washington Post Company, which is quoted on the New York Stock Exchange, also reported that its education unit, Kaplan, had a tough quarter, with operating income plunging 82% to $20.5m and revenues falling 15% to $628.7m. Overall profits at the Washington Post Company for the three months to the end of June were $45.6m, a 50% decline on the $91.9m the company reported in the same period last year.

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