The gloomy results from the newspaper division contained a familiar mix of bad news resembling other newspaper companies' third-quarter results. The classified ad categories are suffering major losses, as job recruitment leads the way with a 27% drop.
Online revenue from the newspaper division grew 11% to $27.2 million--but as with other major newspaper publishers, this is a lower rate of growth than previous quarters. In the third quarter of 2006, online revenue grew 24% to $24.5 million. In absolute dollar terms, that's growth of just $2.7 million in 2007, versus $5.88 million in 2006.
In addition to the ad revenue losses, the Washington Post Company's newspaper division also posted a drop of approximately 4% in circulation revenues. For the year to date, average daily circulation at the Post was 638,800 on weekdays, and 905,300 for the Sunday edition.