Washington Post Trailblazes Route to Recovery

23 July 2002

Second-quarter results from the Washington Post Company reflect an upsurge in revenues – better than tripled by booming business at its cable TV and education units.

The company, publisher of the eponymous daily newspaper and Newsweek magazine, reported net income of $51.1 million (€50.65m; £32.47m), or $5.34 a share, compared year-on-year with a net of $14.5 million, or $1.50 a share.

Gross income increased by 7.3% to $647.7 million. The news triggered a 5.3% rise in the group’s shares on Friday to close at $558 per share. On Monday, however, they lost ground to close at $547.75.

Data sourced from: The Wall Street Journal Online; additional content by WARC staff