Newspapers, Earnings | featured news

While advertising continued to fall, The New York Times Company, which is repositioning itself for a digital age, said circulation revenue rose 6.5 percent in the first quarter.

The Washington Post Co. reported a fourth quarter 2012 loss of $45.4 million, or $6.57 a share as it took $113 million of charges for goodwill write downs and restructuring, mostly in its Kaplan education subsidiary. A year earlier the company earned $61.7 million or $8.03 a share

New York Times profit tripled in the fourth quarter thanks to one-time items, including the sale of its share in Indeed.com, but the underlying business continued to erode on sharp advertising declines.

Washington Post posted a profit as the company recorded fewer restructuring charges, although revenue was flat as its education division continued to struggle.

(Reuters) - The New York Times Co reported worse-than-expected results on Thursday as advertisers cut spending on both print and digital outlets, sending shares down 12 percent.

Online ad revenues rose 8 percent at the news division in the second quarter compared with the same period last year, reversing recent declines. But the $2 million increase in online revenues covered only a small part of the $9.9 million decline in print ads.

Gannet reported a sharply higher profit with a boost from tax gains, while declines in print-advertising revenue eased.

The New York Times Company reported a $35.6 million loss for the third quarter on falling advertising revenue, but deep cost-cutting and newspaper price increases helped beat projections.