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Article: Dow Jones profits slip 4 percent on severance costs
- Article from:
- AP Online
- Article date:
- October 8, 1998
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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AP Online
10-08-1998
NEW YORK (AP) _ Dow Jones & Co.'s third-quarter profits slipped 4 percent, as the publisher of The Wall Street Journal incurred nearly $10 million in costs to cut jobs at its Ottaway community newspaper group.
Dow Jones announced Thursday it earned $25.6 million, or 27 cents per diluted share, in the quarter ended Sept. 30, down from $26.8 million, or 28 cents per share, in the same period last year.
Revenue dropped 30 percent to $443.6 million from $636.3 million, mainly reflecting the sale of its Dow Jones Markets financial information service in May. Dow Jones also suffered from softer advertising as companies have felt the pinch of Wall Street's recent ...