The Washington Post Co. says its fourth-quarter net income declined 3%, as revenue was flat.
The company said Wednesday that net income totalled $79 million, or $9.42 per share. That’s down from $81.7 million, or $8.71 per share, in the same period a year earlier.
Revenue was $1.19 billion, about the same as a year ago.
The company, which has sold Newsweek magazine, relies heavily on its Kaplan business–an education and professional training organization–for growth. Kaplan’s revenue dropped 1% to $700 million from $709 million.
The company said it saw strong revenue growth at its TV broadcasting division, thanks in part to political advertising. It was offset by declines in the education and newspaper publishing segments.
