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Article: Cost cuts lead Washington Post to big profit jump
- Article from:
- AP Online
- Article date:
- October 30, 2009
- Author:
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The Washington Post Co. increased its net income 69 percent in the third quarter, as the company cut costs to narrow losses at its newspapers and kept reaping profit from its cable TV and education divisions.
The company, which owns Newsweek magazine, Kaplan education services and television properties along with its namesake newspaper, said Friday it earned $17.1 million, or $1.81 per share. That compares with net income of $10.1 million, or $1.08 per share, in the same period a year earlier.
Revenue climbed 2 percent to $1.15 billion.
The newspaper division, which includes the Post, The Daily Herald in Everett, Wash., and dozens of local weeklies, whittled its operating ...