US publisher Dow Jones has posted a 12% year-on-year rise in first-quarter revenues amid a "moderately improved" ad market.

The company reported sales of $401.6 million (€336.7m; £223.0m), as ad volumes at its flagship Wall Street Journal jumped 6.3%. According to chief operating officer Richard Zannino, financial advertising in the Journal rebounded "very nicely" in Q1, but technology spend stayed flat.

Dow Jones' first-quarter net income slumped by 73% to $17.8 million, due to a large one-off gain in Q1 2003. Excluding exceptional items, profits jumped 86% to $18.1m.

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