Washington Post Company shows the benefits of education
The holding company for the Washington Post posted a 69% rise in profits to $17.1 million in its last quarter, even though revenue grew only 2% to $1.15 billion. But it wasn't the Post, or the many community newspapers the company owns, or Newsweek or online publication Slate that brought home the bacon. Education division Kaplan was the star of the quarter, again, with revenues of $684.5 million. The publishing division lost $23.6 million, with advertising for the Post dropping 28%, and even online revenue dropping 18%. But the worst news was Newsweek's advertising, which dropped by a really disturbing 48%. Many an analyst will ask the inevitable question: with such spread of results, what is the true nature of the Washington Post Co? It is starting to look like an educational material company with a side interest in media, sadly. Read more: AFP, Washington Post
Become an Insider