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Washington Post Banks Solid Q2

Jul 22, 2002, 12:00 AM
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The Washington Post Company reported net income of $51.1 million for its second quarter ended June 30, 2002, up from net income of $14.5 million for the second quarter of last year. Revenue for the second quarter of 2002 was $647.7 million, up 7% from $603.9 million in 2001. The increase in revenue was credited mostly to growth at the cable and broadcast divisions. Cable division revenue of $108.0 million for the second quarter of 2002 represents a 12 percent increase over 2001 second quarter revenue of $96.5 million. The 2002 revenue increase was gleaned mostly from growth in the division's cable modem and digital service revenues. Revenues at the company's newspaper publishing division were up slightly for the second quarter of 2002, while revenues were down at the magazine publishing division compared to the prior year; the advertising climate at both divisions continues to be “soft.”

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