Newspapers, Quarterly 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.

The New York Times Company reported a second-quarter loss on Thursday because of a write-down in the value of About.com and continuing declines in print and digital advertising revenue.

Washington Post Co. reported a rise in first-quarter earnings that reflected a write-down a year earlier and that masked further weakness in the company's education centers.

New York Times Co. expects ad revenue to fall a steeper-than-expected 8% in the third quarter, with as much as a 3% decline in digital-ad sales.

The Washington Post Co. on Friday reported a 50 percent drop in second-quarter earnings, with revenue continuing to plummet in the Kaplan Higher Education Unit and both the online and print operations of the newspaper division seeing declines in advertising revenue. Overall profits for the quarter that ended July 3 totaled $45.6 million ($5.74 per share), the company said, compared with $91.9 million ($10.00 per share) a year earlier. Revenue increased at The Post Co.’s television broadcasting and cable television divisions.