Washington Post Co. reported first-quarter broadcasting revenue of $81.5 million, 13% ahead of what it reported in the first quarter of last year. Operating income for the first quarter of 2012 increased 58% to $31 million.
The increase reflects "improved advertising demand across many product categories, including a $2.2 million increase in political advertising revenue," said Washington Post Co. in a statement. "Expense reductions from various cost control initiatives also contributed to the improvement in operating results."
Overall, Washington Post Co. revenue for the first quarter of 2012 was $972.5 million, down 7% from the first quarter of 2011. Newspaper publishing division revenue totaled $142.3 million, down 8% from the first quarter of 2011. Education division revenue totaled $553.4 million for the first quarter, an 11% decline for Washington Post Co.
Cable television division revenue was $190.2 million in the quarter, flat with the first quarter of 2011. That reflects "continued growth of the division's internet and telephone service revenues, offset by an increase in promotional discounts and a decline in basic video subscribers."
